Fortress Minerals signs 12-month offtake deal with Malaysian steel mill

SGX Filings

Apr 01

Fortress Minerals Limited announced that its subsidiary, Fortress Resources Pte. Ltd., entered into a new 12-month iron ore offtake agreement with an independent domestic steel mill in Malaysia on Apr, 1 2026.

Under the contract, Fortress Resources will deliver approximately 180,000 wet metric tonnes of iron ore between Apr, 1 2026 and Mar, 31 2027, with the option to increase or reduce the volume by up to 20%.

Selling prices will be determined by a formula referencing the average daily Platts 65% Fe CFR North China index and adjusted according to the iron content of each shipment.

The company expects the agreement to provide steady income and improve earnings per share for the financial year ending Feb, 28 2027, while having no material effect on net asset value per share.

Fortress Minerals stated that none of its directors or substantial shareholders has any interest in the agreement beyond their existing shareholdings or directorships.

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