Iron ore junior, Cazaly Resources has inked a monetary contract with the globe's biggest trading house, Euromin SA/Vitol Group and an off-take agreement for its Parker Range Iron Ore Project in the Yilgarn area of Western Australia.

The business conditions of the deal "encompass an off-take for a minimum of 20 million metric tons of iron ore production, and include a financing facility of up to A$30 million primarily for the construction of port facilities".

The contract is at official documentation stage and has been organized by Tennant Metals, a self-governing Australian metal and bulk commodity trading Company, and has Euromin S. A. acting as chief to the deal.

Euromin is the metal trading subsidiary of Vitol S. A. that is the globe's biggest trading company with profits in 2009 in surplus of US$140 billion.

The sales job will be mutually handled by Tennant Metals and Euromin.

Cazaly said that in its capability as the leading freight buyer in the world, Vitol's participation in the transaction via Euromin should offer noteworthy cost gains for the iron ore hauling through to its final sales destination in Asia.

The sales result is visualized by the company to be near to standard prices that is an indication on the brilliant properties of the ore.