offtake

Definition

An agreement or contract for a buyer to purchase a specific amount of a product—such as raw minerals—before or during the production process.

Etymology

Derived from the verb 'take off' in the sense of removing or withdrawing goods from a supply, the term gained prominence in industrial and mining contexts to describe the marketing and sale of future output.

In the news

In the article, Japan's government strategy is described as focusing on financing and 'offtake,' meaning they provide financial support in exchange for guaranteed access to the minerals produced.

Government cash reshaping mining finance: report

The Northern Miner

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