PMA signs new gas deal

MINE developer Precious Metals Australia Ltd has negotiated a new gas supply agreement for its Windimurra vanadium project with Santos, two months after Santos cancelled its original $35 million agreement. PMA announced a three-year gas supply agreement with Santos in May, and three months later advised that Santos had “purportedly terminated” the agreement after PMA asked for an extension of time. PMA said at the time that Santos had offered a new agreement “but on terms that were unacceptable”. It announced this week that it has negotiated a new three-year supply deal, with an option for a three-year extension, but did not disclose the new cost.