Jiayou International's subsidiary signs contract with Erdenes TavanTolgoi JSC for purchase of main coking raw coal
2021-07-07 16:15:28 [Print]
Jiayou International announced on the evening of July 5 that Jasn International Pte. Ltd., a wholly-owned subsidiary of the company, signed the Purchase Contract with Erdenes TavanTolgoi JSC. According to the contact, Jasn International will purchase 15 million tons of main coking raw coal, 1.5 million tons of semisoft coking coal and 1.5 million tons of weathered coal, totaling 18 million tons.
This contract is a long-term contract, and the purchase price will be adjusted quarterly based on a basket of publicly available coal price indexes, the statement said. The total amount of the contract will be subject to the final transaction amount. The contract shall come into force from the date of signature and seal by both parties and shall continue until the fulfillment of the rights and obligations agreed upon by both parties (expected to be completed in five years).
This contract is a long-term contract, and the purchase price will be adjusted quarterly based on a basket of publicly available coal price indexes, the statement said. The total amount of the contract will be subject to the final transaction amount. The contract shall come into force from the date of signature and seal by both parties and shall continue until the fulfillment of the rights and obligations agreed upon by both parties (expected to be completed in five years).
