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Here is some important information I found on NFE's website in regards to additional production deals already signed:
NIC has negotiated an off-take agreement with the China Railway Materials Import and Export Company (900,000 metric tonnes of HBI annually to be delivered commencing in 2016). This order represents about two thirds of the annual production of HBI from the Griffith Mine. NIC has also negotiated an off-take agreement with Tianjin Materials & Equipment Group Corporation of China for 60,000 metric tonnes of HBI to be delivered annually starting in 2016. The rest of the production will be offered for sale to the world market.
So we actually have 3 buyers right now:
China Railway Material - 900,000 Tonnes
Tianjin Materials - 60,000 Tonnes
Danieli - 500,-000 Tonnes
On page 4 of their Griffith Assessment :
This is why OMC is backing Northern Iron up, $30 million investment is nothing when you have agreements like that already signed.
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