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(ICIS) -- Australia’s Base Resources Ltd
said on Friday that DuPont Titanium Technologies has signed a deal to offtake at
least 72% of the expected rutile output from a mining project currently being
developed in Kwale, Kenya.
The agreement will span six years from the start of production at Kwale,
Base Resources said in statement late on Thursday, adding that the project can
start production in 2013.
Rutile is a natural form of titanium dioxide
(TiO2). The company has the option to sell up to a further 25,000 tonnes/year to
DuPont over the same period.
The agreement provides DuPont the right, in the last four years of the
deal, to reduce its offtake volume proportional to any cuts in its overall
high-grade TiO2 feedstock requirements, with pricing to be derived from an
agreed quarterly index of market prices, the company
said.
Perspectives of development of the polymers markets, pricing
issues and other important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The
main idea of the Summit is to find a "the golden mean" between producers and
converters. When producers receive exactly such margin of production, which
helps them to invest in production expansion in order to substitute polymers
imports, and the converters receive such price of feedstock that helps them to
compete imported finished products. The Summit site gives an access to the live
video of the Summit, speakers" presentations, as well as opportunities to ask
questions or make appointments to any Summit partcipant.
mrcplast.com
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