Australia-based iron ore company Flinders Mines has inked a binging, non-excusive Memorandum of Understanding (MoU) with four steel mills in China.
The agreement permits its clients to test technical and commercial viability of its ore produced from Pilbara iron ore project and process the ore at their respective mills.
"Flinders expects this will ultimately lead to Letters of Intent with a number of foundation customers," said Flinders in a statement.
The company, meanwhile is also engaged in discussions with 30 other steel mills in the country and expects to enter into MoUs with many of these in the next few months.
Although, Flinders is currently seeking clients in the Chinese market, it stated that it is also receiving interests from potential clients in Taiwan, Korea and Japan.