IMIC, Hebei Sign Offtake Agreement for Nkout

Business Day reported that IMIC (LSE:IMIC) has signed an offtake agreement with Chinese group Hebei Iron and Steel (SHE:000709) for iron ore produced from the Nkout project in Cameroon, which IMIC is in the process of acquiring.

As quoted in the market news:

IMIC said the offtake agreements will be used as a vital part of financing the project through Chinese partners such as Hebei – the largest steel producer in China.

Read the full article in Business Day