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PrintWestern Areas has signed an improved deal to supply nickel concentrate to China's largest nickel company Jinchuan Group Ltd.
The company has been selling nickel concentrate to Jinchuan since July 2010.
The two year agreement at improved payability terms to Western Areas was arrived at by a competitive tender and involves the sale of up to 26,000 tonnes of nickel to Jinchuan in concentrate (FOB Port of Esperance).
The detailed terms of the new agreement were not released.
The tender was understood to have attracted bids from a number of major global operating, investing and trading companies.
Strong competition for its nickel sulphide concentrate bodes well for the company in a looming supply side shortage of quality nickel concentrates in the market.
Western Area's concentrate is known to be attractive to end users to smelt or blend with concentrates of lower quality.
Western Areas currently produces between 25,000 tonnes and 26,000 tonnes of nickel in concentrate per annum and sells to BHP Billiton (ASX:BHP) Nickel West in Australia and Jinchuan in China.
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