Mongol Mining signed a cooperation agreement with Jiaoyou on November 5, 2024, establishing a continuous related party transaction lasting five years. According to the agreement, Mongol Mining's affiliates will supply a variety of coal products to Jiaoyou's wholly-owned subsidiary Wanli, and designate Wanli as the partner for the import and distribution of coal in Gangemao Town. Jiaoyou holds a 20% equity interest in KEX, an indirect non-wholly-owned subsidiary of Mongol Mining, making Wanli a related party of Mongol Mining. The board of directors has approved the transaction, with independent non-executive directors confirming the terms to be fair and reasonable, aligning with the overall interests of the company and shareholders. Independent financial advisors have also confirmed that the...Show More

Mongol Mining signed a cooperation agreement with Jiaoyou on November 5, 2024, establishing a continuous related party transaction lasting five years. According to the agreement, Mongol Mining's affiliates will supply a variety of coal products to Jiaoyou's wholly-owned subsidiary Wanli, and designate Wanli as the partner for the import and distribution of coal in Gangemao Town. Jiaoyou holds a 20% equity interest in KEX, an indirect non-wholly-owned subsidiary of Mongol Mining, making Wanli a related party of Mongol Mining. The board of directors has approved the transaction, with independent non-executive directors confirming the terms to be fair and reasonable, aligning with the overall interests of the company and shareholders. Independent financial advisors have also confirmed that the cooperation agreement term meets industry standards. In addition, Mongol Mining has been collaborating with Wanli since 2014, with similar agreements in place from July 1, 2020, to December 31, 2024. The new agreement will be effective from January 1, 2025, to December 31, 2029, involving the export of 1.5 to 3 million tons of coal products annually. Mongol Mining will ensure the reasonableness of the transaction terms through its internal control system, and will regularly review ongoing related party transactions.