Anglesey Mining's associate, Labrador Iron Mines (LIM), has signed a two-year agreement with the Iron Ore Company of Canada (IOC) for the sale of all of LIM's iron ore production in the 2013 and 2014 calendar years.
IOC will pay for the iron ore progressively, as the ore is resold, with the price calculation based on the monthly average of the market index, which should decrease LIM's exposure to market volatility experienced in the past two years during its previous agreement with IOC.
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