TKC Steel inks 15 million tonnes of iron ore pact with Vinv Vita

June 11, 2008

June 11th (Steel Guru) – The Manila Times reported that TKC Steel Corp’s Iligan based subsidiary secured a contract with a mining firm for the supply of iron ore in Mindanao.

TKC Steel in a statement to the Philippine Stock Exchange said that its unit Treasure Steelworks Corp has negotiated with Vinc Vita Mining Corp for the supply or iron ore. The 20 year old mining firm will supply TKC Steel with up to 3 million tonnes of the ore each year for the next 5 years.

TKC Steel said the processing of the iron ore will be done through a beneficiating process to upgrade its iron ore concentration. The product will then be used for the company’s blast furnace and for possible export.

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