Business · Companies · 4 hrs ago
Astron signs five-year deal for all Donald Project mineral sands output
Astron has signed a five-year deal to sell the Donald Project’s heavy mineral concentrate to Xiamen Xiangyu Logistics Group, a logistics and supply chain company based in China.
The project is in Victoria, Australia, and is being developed by a joint venture between Astron and US company Energy Fuels.
The agreement covers all output, expected to be about 250,000 tonnes a year, with a minimum of 160,000 tonnes subject to take-or-pay terms.
Astron can buy back up to 30% of the supply for further processing at its plant in China or by a third party outside China.
The matching purchase and sales terms are intended to limit the risk of differences in price or product specifications.
Securing a customer meets a key requirement for the project’s senior debt package, but the agreement depends on the joint venture making a final investment decision by 31 December 2026.
Astron is aiming to make that decision in the fourth quarter of 2026.
Astron signed a binding five-year agreement with Xiamen Xiangyu Logistics Group Corporation for all heavy mineral concentrate from its Donald Project in Victoria.
The agreement covers about 250,000 tonnes of concentrate a year, with take-or-pay provisions for a minimum of 160,000 tonnes.
Astron can buy back up to 30% of annual supply for further processing.
Securing a customer meets a key requirement under the project’s senior debt package.
The agreement depends on the project joint venture reaching a Final Investment Decision by 31 December 2026.
- Who
- Astron and Xiamen Xiangyu Logistics Group Corporation.
- What
- They signed a binding five-year deal for all Donald Project heavy mineral concentrate.
- When
- The signing date is not stated. The agreement requires a Final Investment Decision by 31 December 2026.
- Where
- The Donald Project is in Victoria, Australia.
- Why
- Securing a customer meets a key requirement under the project’s senior debt package.
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This story does not have a timeline yet.
- Annual HMC output
- About 250,000 tonnes
- Minimum annual volume
- 160,000 tonnes
- Initial contract term
- Five years
- Astron buyback right
- Up to 30% of annual supply
- Final Investment Decision deadline
- 31 December 2026
What people are saying
Execution of the offtake agreement is a significant milestone for the Donald Project. Xiamen Xiangyu Logistics Group is a valuable partner for the Project’s mineral sands products, with an extensive, established mineral sands sales network in China and into Asia
The offtake agreement with Astron is an important strategic move in our positioning across the global titanium and zirconium industry chain