Shaw River Subsidiary Signs Contract to Sell 30,000 Tonnes of Manganese

Shaw River (ASX:SRR) announced that its subsidiary Otjozondu Mining has signed a purchase contract with Noble Resources International to sell up to 30,000 tons of manganese ore. The company is currently in the final stages of completing an infill and grade control program and anticipates starting mining of bulk samples totaling 100,000 tones in early November.

According to the press release:

The sales contract is structured for fixed pricing at different product specifications which enables the Company to sell various manganese ores products with more certainty over revenue within a flexible time frame. Under the terms of the agreement the company can, at its election, sell up to 30,000 tonnes to Noble before 31 March 2015.

Click here to read the Shaw River Manganese Limited (ASX:SRR) press release