Andromeda Metals has received a signed Letter of Intent from IberoClays for the exclusive distribution of Andromeda’s kaolin products into the Mediterranean region.
IberoClays is a key supplier of kaolin into global markets and the leading formulator of ceramic tile minerals in Europe.
Key terms under the Letter of Intent are:
- Confirmed intention from IberoClays for an exclusive distribution agreement for the full portfolio of Andromeda’s kaolin ceramic products from The Great White Project
- Exclusive distribution across Spain, France, Italy, Portugal, Morocco, Egypt and Turkey
- Target volumes of between 15,000t-20,000tpa during the first three years of production
- Pre-payment for orders confirmed before 30 September 2025, payable quarterly at the beginning of the quarter for product to be shipped during that quarter
- Agreement duration of an initial three years, with an evergreen provision thereafter, and to finalise the binding agreement by the end of October 2023.
CEO and Managing Director of Andromeda, Bob Katsiouleris, said, “We are excited by the opportunity this unique partnership represents, to commercialise our product strategy with a world-leader in the field of ceramic tile formulations.
“We are very much looking forward to the opportunity of working closely with IberoClays across the Mediterranean, and in validating our product in the high-end ceramic tile and glaze markets across Asia, as we prepare for shipments from October 2024.”
