CMOC Group to Renew Agreements to Purchase Copper, Cobalt

MT Newswires Live2024-10-29

CMOC Group (HKG:3993, SHA:603993) plans to renew its sales and procurement agreement with KFM Holding and KFM Mining, a Monday filing with the Hong Kong Exchange said.

Under the renewed agreement, the group will purchase copper and cobalt from the KFM Group, while the latter will purchase certain equipment, materials, and relevant services from CMOC Group.

The company's subsidiary CMOC also renewed its product sales and procurement framework agreement with Contemporary Amperex Technology.

Under the agreement, CMOC will purchase metal products, including copper and nickel products, from Contemporary Amperex Technology, and sell copper, cobalt, nickel, and lithium products to the latter.

The current agreements, which are set to expire on Dec. 31, will be renewed for another three years, starting from Jan. 1, 2025 until Dec. 31, 2027.

The mining company's shares closed nearly 3% lower on Tuesday.

Price (HKD): $6.57, Change: $-0.20, Percent Change: -2.95%

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