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NSL Consolidated locks in additional iron ore supply contract

NSL Consolidated Ltd. has secured another sales order for premium-quality iron ore from its Indian operations.

The ASX-listed producer said June 9 that the order is for the supply of an additional 20,000 tonnes of about 60% iron ore to Infinity Ores at the higher price of A$67 per tonne ex-gate.

NSL has already stockpiled roughly 2,000 tonnes of 61% iron ore.

The ore will be supplied from the Kurnool phase-two wet beneficiation plant over the coming months.

NSL said the strengthening domestic iron ore market has allowed the company to negotiate additional sales with Infinity Ores and also provides an opportunity to renegotiate the terms of the initial 20,000-tonne 63% iron ore sales contract.