Knowledge

Australian mining firm Admiralty Resources recently signed a significant iron ore offtake agreement with Trafigura Group, a global commodity trading giant. Under the deal, Trafigura will be responsible for the international marketing of Admiralty’s Mariposa Iron Ore Project.

The contract is scheduled to take effect in December 2025, with its pricing mechanism transparently linked to major international iron ore indices and strict quality assurance clauses included. The signing of this agreement marks a crucial step for Admiralty in advancing the commercial operation of the Mariposa Project, while further deepening its strategic partnership with Trafigura Group.

The Mariposa Iron Ore Project is located 25 kilometers away from the Town of Vallenar in Chile. The mine boasts a proven mineral resource reserve of 66.6 million tonnes, with an average iron grade of 35.6%, and an estimated mine life of 17 years. It is reported that the project entered the pre-production phase in August 2025 and has obtained official approval from local environmental authorities to transport iron concentrate via temporary roads. This permit allows Admiralty to export a total of 150,000 tonnes of iron concentrate in three batches over 180 days, with approximately 50,000 tonnes per batch. Upon full commissioning, the project will produce 2 million tonnes of iron ore with 68% iron grade annually.