Singapore, 28th May 2020 – Pelagic Resources Pte Ltd is pleased to announce that it has entered into a 3-year off-take agreement with Bauba Resources (JSE:BAU), to receive a minimum 360,000 metric tonnes of Chrome Ore Concentrate future potential production from Bauba Resources’ Moeijelijk Chrome Mine.
Pelagic has agreed to purchase a minimum of 10,000 metric tonnes of metallurgical grade chrome per month from Bauba’s existing Moeijelijk mine and wash plant in Limpopo, South Africa.
“We are pleased to enter into this agreement with our core supplier, further solidifying an existing relationship spanning more than 3 years. We have marketed Bauba’s premium quality product(s) directly to our customer base Internationally, and this agreement reinforces our confidence in Bauba’s management to continue delivering the highest grade chrome concentrates with the same consistency and reliability which we and our customers have grown accustomed to, especially in China” said Pelagic’s group CFO, Dinos Demetriades.
“To date, Bauba has enjoyed the benefit of Pelagic Resources’ flexible and efficient approach to commodity trading which has been provided to us both consistently and reliably” said Bauba’s CEO, Nick Van Der Hoven.
The Pelagic Resources Group (“Pelagic Resources”) is an established global physical commodity merchant, headquartered in Singapore with offices in South Africa, Zimbabwe & China with a core focus on speciality metal ores. Pelagic was founded in 2016 and has since marketed over 1 million tonnes of chrome concentrates to China, Europe, India and the USA.
Bauba Resources is a diversified mining and exploration company listed on the Johannesburg Stock Exchange (JSE) since September 2010. Bauba’s primary business focus areas are to create value from their existing chrome mining operations, as well as the exploration, evaluation and development of Chrome and PGM projects.
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