Jiayou International (603871.SH) issued an announcement. On November 5, 2024, the company and Mongolia...
Zhitong Finance App News, Jiayou International (603871.SH) announced that on November 5, 2024, the company signed a “Long-term Cooperation Agreement” with Mongolian Mining Corporation (HKEx stock code: 00975, “MMC” for short). MMC and its affiliates increase sales of 1.5 million tons-3 million tons of various coking coal products to the company and its affiliates every year. The company provides integrated product trade solutions described by MMC and its affiliates to ensure stable supply of products to end users in China.
According to reports, MMC owns and operates the Ukhaa Khudag (Uhahudag) and Baruun Naran (Baruun Naran) open-pit coking coal mines, both located in Mongolia's southern Gobi Province. It is Mongolia's largest producer and exporter of high-quality refined coking coal (HCC), and is a strategic partner for the company's main coking coal trade integration business. In February 2024, the company reached a cooperation agreement with MMC's mines to extend the equity agreement. The signing of this cooperation agreement is the strategic goal of the two sides to expand the scale of cooperation on the basis of mutual trust and win-win situation, complement each other's advantages, and achieve the common development of Chinese and Mongolian enterprises.
