Mongol mining (stock code: 975) announced that it has signed a ten-year marketing agreement with Jiayou International Logistics Co., Ltd. (Jiayou), which will take effect on April 19, 2024. The agreement stipulates that within the first five years, Mongol mining will supply 1.5 million tons of coal products to Jiayou annually, and this will increase to 2.0 million tons per year for the next five years, with a total not exceeding 17.5 million tons. This transaction is considered a continuous related transaction by Mongol mining following Jiayou's acquisition of 20% equity in KEX. The board of directors, including independent non-executive directors, has approved the agreement, believing that the terms are fair and reasonable and in the overall interests of the company and shareholders. The...Show More

Mongol mining (stock code: 975) announced that it has signed a ten-year marketing agreement with Jiayou International Logistics Co., Ltd. (Jiayou), which will take effect on April 19, 2024. The agreement stipulates that within the first five years, Mongol mining will supply 1.5 million tons of coal products to Jiayou annually, and this will increase to 2.0 million tons per year for the next five years, with a total not exceeding 17.5 million tons. This transaction is considered a continuous related transaction by Mongol mining following Jiayou's acquisition of 20% equity in KEX. The board of directors, including independent non-executive directors, has approved the agreement, believing that the terms are fair and reasonable and in the overall interests of the company and shareholders. The pricing of the marketing agreement will reference the coal auction price on the Mongolian Stock Exchange and be adjusted to reflect the relevant costs. An independent financial advisor has confirmed that the term of the agreement conforms to industry practices. Additionally, Mongol mining has published suggested annual upper limits for the coming years, ranging from $141,655,172 in 2024 to $92,285,714 in 2034.