Canada: Minerals company EDM Resources has entered a definitive gypsum offtake agreement with a ‘large, vertically-integrated’ gypsum and gypsum wallboard producer for the supply of US$58m-worth of gypsum from its Scotia mine near Halifax, Nova Scotia. Under the terms of the agreement, the buyer will make an advance payment of US$250,000 for five-year exclusivity on gypsum from the mine. The agreement is based on projected volumes over a 10-year period and covers half of the mine’s 5.1Mt reserves, including 1.53Mt of 93% purity and 3.65Mt of 91% purity gypsum.
EDM Resources President and CEO Mark Haywood said "We are very pleased to secure this third revenue stream opportunity for our Scotia Mine, in addition to other minerals streams."
