MZI Resources has signed an off-take agreement with major shareholder Tricoastal for the purchase of all zircon concentrate produced at its Keysbrook mineral sands project over a five-year period.
Drilling operations at MZI's Keysbrook operation south of Perth.
MZI Resources has signed an off-take agreement with major shareholder Tricoastal for the purchase of all zircon concentrate produced at its Keysbrook mineral sands project over a five-year period.
The deal covers five years of production with an option to extend the sales agreement for a further five years.
MZI said it now has sales agreements in place covering about 50 per cent of the forecast annual revenue from Keysbook and about 60 per cent of forecast annual production.
The company also said it expects to finalise a project debt funding package within the coming weeks.
MZI revealed in October that one of the two lead arranging banks appointed to provide debt funding for its Keysbrook mineral sands project had withdrawn from the process.
The other lead arranging bank, South Africa-based Nedbank Capital, has received credit approval for a 50 per cent share of the project debt finance facilities.
MZI shares closed the day's trade steady at 1.2 cents.