Avenira (ASX:AEV) entered into a four-year phosphate rock offtake and Mainland China distribution agreement with Hebang Biotechnology (Hong Kong) Investment for product from the Wonarah phosphate project in the Northern Territory, according to a Wednesday Australian bourse filing.

The agreement establishes an annual offtake quantity of 500,000 wet metric tonnes in each full contract year over an initial four-year term from commercial commencement.

The offtake agreement provides for a market-referenced pricing framework, principally referencing the Mainland China market, including relevant domestic market benchmarks and, where applicable, agreed end-customer pricing.

Hebang is a related party and substantial shareholder of Avenira through its relationship with Sichuan Hebang Biotechnology, Avenira's controlling shareholder.