Mission locks in biodiesel contract

Perth-based Mission Biofuels Ltd has secured a 12-month contract with a global oil trading company to supply up to 84,000 tonnes of biodiesel starting from next year.

In its June monthly update released on the stock market, the company also sold and shipped about 4500t of biodiesel from its refinery business in Malaysia using its export pipeline for the first time.

The next shipment of 5000t, scheduled for later this month, is currently in production.

Meanwhile work on the company's second 25,000 tonnes per annum refinery in Malaysia is continuing.

The company has maintained its profit guidance for the 2008 financial year with earnings before interest, tax, depreciation and amortisation of around $9 million.