NSL expands its customer base in India with new order
In updating the market regarding the progress of its Phase 2 Wet Beneficiation Plant, NSL Consolidated (ASX: NSL) advised that it had expanded its customer base with sales to commence directly to the Indian steel industry.
The 4,000 tonne order from Minera Steel and Power Pvt Ltd is for the supply of 60/61% Fe filter cake (wet plant product) on commercial terms similar to other orders.
NSL already has an active distribution base within India through agreements with Infinity Ores. The company has delivered approximately 10,000 tonnes of feed which has not yet required dispatch of wet plant product under its purchase orders.
Those considering this stock shouldn’t make assumptions regarding future sales, nor should they base investment decisions on performances to date. Those considering this stock should seek independent financial advice.
This significant development comes only a month after the company received a 20,000 tonne purchase order for the same quality ore with a sales price of $67 ex-gate. This came at a time when there was a strengthening in the local domestic iron ore market.
NSL’s Managing Director, Cedric Goode, noted at the time the order was received that the company was ramping up to its 200,000 tonne per annum plant capacity of final concentrate as efficiently and effectively as possible.