Strong Chinese interest in TTR iron sands

摘要

CHINESE steel mills are showing strong interest in vanadium-titano-magnetite (VTM) to be produced from the iron sands deposits of Trans Tasman Resources (TTR) off the west coast of New Zealand's North Island. The company has secured offtake agreements and MOUs to annually supply 7 million tonnes to China, and is confident of securing further contracts through ongoing negotiations. TTR's CEO and managing director Paul Berend was asked to give a presentation at the 2011 China Iron & Steel Association (CISA) conference in Qingdao, the second time he has done so. "This enabled me to showcase the project and outline the size, volume, cost base and the benefits that Chinese steel mills can derive from using this material, with an emphasis on the potential reduction in costs.