TitanForge — Marketing & Offtake Strategy
The marketing and offtake strategy - the buyer channels and offtake arrangements underpinning TitanForge.
Section 15 · Business Plan
Marketing & Offtake Strategy
The marketing and offtake strategy – the buyer channels and offtake arrangements underpinning TitanForge.
Lender-grade revenue requires contracted demand, not spot hope. The
Group’s marketing architecture allocates each product to the contracting
structure its market realistically supports, and targets a minimum of
60% of Year 3–5 revenue under committed structures at financial
close.
| Product stream | Contracting structure | Committed share target | Counterparty profile |
|---|---|---|---|
| Manganese ore (export) | 2–3 year frame agreements with pricing off Mn 44% CIF Tianjin index; volume take-or-pay bands | 70% of Y3–Y5 volume | Top-tier Asian mills and global traders (investment-grade or LC-backed) |
| Ferroalloys | Annual/quarterly contracts with index-linked pricing; regional premium capture in AfCFTA markets | 60% | Steel mills (SA, EU, Asia), alloy traders |
| Battery-grade Mn sulphate | Qualification-then-offtake: 12–18 month cathode-maker qualification, then 3–5 year agreements | Qualification underway before Forge Park FID (gate) | Cathode precursor manufacturers |
| Third-party rail & port | Take-or-pay capacity agreements, 3–7 years, regulator-consistent tariffs | 80% of third-party capacity | Regional miners without corridor access |
| Energy (surplus) | Wheeled corporate PPAs, 5–10 years | 90% of surplus MWh | Industrial and mining offtakers |
| Coal / anthracite | Domestic term contracts + export spot | 50% | Utilities, metallurgical users, traders |
Pricing risk is retained deliberately on index-linked structures
rather than fixed-price agreements: fixed-price offtakes at this scale
would concentrate counterparty credit risk without removing market risk
(a fixed price far above market invites default exactly when it is
valuable). The bankable protection is volume certainty plus
investment-grade or letter-of-credit-backed counterparties — and it is
volume, not price, that the DSCR analysis in Section 19 is sensitive to
at the margins the plan carries.
The plan recommends lenders require, as conditions to first drawdown
on each project tranche: signed manganese frame agreements covering 70%
of Iron Crown’s Y3–Y5 ramp volume; rail take-or-pay covering 60% of
Atlas Rail’s third-party capacity assumption; and cathode-maker
qualification programmes initiated before Forge Park FID. All three are
achievable pre-close in current market conditions and convert the
revenue line from projection to contract.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of TitanForge Resources & Infrastructure Holdings.