Fortress Minerals signs two-year offtake deals with Malaysian steel mill
Fortress Minerals has signed two 24-month offtake agreements with a Malaysian steel mill, expected to enhance earnings per share for FY2026. The agreements involve the delivery of approximately 1.2 million wet metric tonnes of iron ore from September 2025 to August 2027, with selling prices linked to Platts’ benchmark rates for iron content.
The agreements are expected to boost EPS for FY2026.
Fortress Minerals, through its subsidiary Fortress Resources Pte. Ltd. (FRPL), has signed two 24-month offtake agreements with an independent third-party domestic steel mill (DSM) in Malaysia.
Under the agreements, FRPL has agreed to deliver to DSM, in aggregate, approximately 1.2 million wet metric tonnes (WMT) for the period commencing 1 September 2025 to 31 August 2027.
Selling prices will be based on Platts’ benchmark rates for 65% Fe and 58% Fe CFR North China, with adjustments based on the actual iron content of each shipment.
The group expects the agreements to boost earnings per share for the financial year ending February 2026.
