Zhitong Finance and Economics APP news, Jiayou International Logistics (603871.SH) announced that on November 5, 2024, the company signed a "Long-term Cooperation Agreement" with Mongolian Mining Corporation (Hong Kong Stock Exchange stock code: 00975, referred to as "MMC"). MMC and its affiliates will increase sales by 1.5 million tons to -3 million tons of various types of coking coal products to the company and its affiliates annually. The company will provide MMC and its affiliates with a product trading integrated solution, ensuring stable product supply to end users in China.

It is reported that MMC owns and operates Ukhaa Khudag and Baruun Naran open-pit coking coal mines, both located in the southgobi province of Mongolia. They are the largest high-quality washed and coked coal (HCC) producer and exporter in Mongolia, and strategic partners in the company's coking coal trading integrated business. In February 2024, the company reached a cooperation agreement with MMC's mines through an equity extension agreement, expanding the scale of cooperation on the basis of mutual trust and mutual benefit, complementing each other's strengths, and achieving the strategic goal of common development of Chinese and Mongolian enterprises.