Fortress Minerals Signs New Offtake Agreement,Supplying 180000 WMT of Iron Ore Annually

NewTimeSpace News: On April 1, 2026, Fortress Minerals announced that its subsidiary, Fortress Resources Pte. Ltd., had entered into a new 12-month offtake agreement with an independent third-party domestic steel mill in Malaysia, covering the period from April 1, 2026, to March 31, 2027.

Pursuant to the agreement, Fortress Resources will deliver an aggregate of approximately 180,000 wet metric tonnes of iron ore products during the period, with a variance of an additional or a reduction of twenty percent at the option of Fortress Resources. The selling prices will be based on a formula guided by, among other things, the average of the available daily price of Platts for 65% Fe CFR North China, adjusted based on the iron content of each shipment.

The Board of Fortress Minerals believes that the agreement will provide the Group with firm recurring income and cash flow during the period, strengthen its financial position, and is expected to contribute positively to the earnings per share of the Group for the financial year ending February 28, 2027.

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