Minmetals Resources' Khoemacau Copper Mine Signs $7.65 Million Container Housing Supply Agreement with China Metallurgical Engineering & Construction
(Minmetals Resources 01208) announced that Khoemacau Copper and China Metallurgical Engineering & Construction signed a supply agreement on June 9, 2025, covering the purchase of 1,200 sets of container houses, with a total contract amount of $7.65 million.
This supply agreement is to support the expansion project of the Khoemacau mining area, building a accommodation camp that can accommodate 1,200 people. According to the announcement, as the main shareholder of China Metallurgical Engineering & Construction is China Metallurgical Corporation, and China Minmetals holds more than 30% of the shares of China Metallurgical Corporation, this agreement constitutes a company-related transaction.
The announcement states that certain relevant percentage ratios in the supply agreement exceed 0.1% but are below 5%, so it is subject to the reporting and disclosure requirements of Chapter 14A of the listing rules, but does not require the approval of independent shareholders.
The management believes that the terms of the agreement are in line with general commercial terms and are beneficial to the overall interests of the company's shareholders. The payment terms of the supply agreement include a 20% advance payment, 40% payment upon delivery, 20% payment after on-site receipt, 10% payment after installation and commissioning, and 10% payment after the warranty period ends.
EN