Magnetite Mines set to progress DFS for Razorback through deal with JFE Shoji | The Market Online | Caroline Smith

"South Australia-focused iron ore developer Magnetite Mines Ltd (ASX:MGT) has signed a deal with JFE Shoji Australia Pty Ltd – a subsidiary of Japanese steel supplier JFE Shoji Corporation – to progress its Razorback Iron Ore Project through a definitive feasibility study (DFS).

"According to the non-binding Heads of Agreement with JFE Shoji Australia, the latter will receive ‘DR-grade’ magnetite concentrate production offtake rights for up to 10 percent of the project’s Stage 1 production across a term of 15 years.