The West Australian reported that Atlas Iron has signed 3 new offtake contracts covering about 2.2 million tonnes of iron ore a year.
The 3 contracts, which have durations of one to 3 years, were signed with 2 unnamed Chinese steel mills and an unnamed major international trading house.
Atlas said that it had recently shipped its first cargo outside of China via a spot sale to an unnamed major Asian steel mill.
The company in a statement said that "Pricing for these recent term contracts are based on the benchmark 62% Fe index, adjusted for iron content and discounted for impurities in line with normal market practice."
Mr Ken Brinsden MD of Atlas said that the new contracts and Asia wide interest reflected strong demand for Atlas' product and the company's growing reputation as a reliable producer.
Atlas said that it was in negotiations with a number of its existing customers about increasing sales tonnages under further term contracts.
It added that "Atlas also continues to have discussions around new term contracts with a variety of other parties both inside and outside of China."
