Meridian Mining SE (TSX V: MNO) (“Meridian” or the “Company”) today announced it had secured an off-take with Grupo Maringa for 38,000t, of which 20,000t will be prepaid in 3 tranches, with the first prepayment received in October, 2017.
As quoted in the press release:
“Grupo Maringa (http://www.grupomaringa.com.br/) has been a valued and growing Meridian customer for over 2 years. Our ability to supply a high quality manganese ore on a consistent and reliable basis during that time has now translated into Maringa wanting to lock-in supply for 2018” said Anthony Julien, President and CEO of Meridian. “As the Brazilian economy has improved, so too have the sales and production of Grupo Maringa (Brazil’s 2nd largest ferromanganese alloy producer). Meridian’s high quality manganese ore is a key input for their production needs and to enable Maringa to fulfill the rising demand for their products. Maringa has therefore increased their purchasing commitment by 210% for 2018 by way of an off-take arrangement with Meridian amounting to 38,000t for 2018.”