India Globalization Capital, Inc. (IGC) Signs Iron Ore Sale and Purchase Agreement with Projected Aggregate Revenue of $10 Million to $12 Million
India Globalization Capital, a materials and infrastructure company operating in India and China, today announced that the company entered into an iron ore sale and purchase agreement with Mon Resources International LLC. Mon Resources is a supplier of iron ore produced in Mongolia. Encompassing an aggregate shipment of up to 126,000 metric tons of iron more, the contract is effective through December 31, 2013, and can be extended via mutual agreement. The agreement states that IGC will purchase an aggregate of 126,000 metric tons of 54% Fe content ore which is to be delivered to the IGC hub at the…