Shougang Fushan Resources Group Renews Sales, Purchase Agreements with Shougang Group

MT Newswires Live

2024-12-03

Shougang Fushan Resources Group (HKG:0639) renewed its master sales and purchase agreement with Shougang Group on Monday, a same-day Hong Kong bourse filing said.

The renewed agreement replaces the previous deal that is set to expire on Dec. 31. The new deal, effective Jan. 1, 2025, will expire on Dec. 31, 2027.

Under the agreement, the group will supply Fushan coal products to Shougang Group and its associates and procure Shougang Group products including steel, machinery, and related services from the latter.

The annual caps proposed for the supply of Fushan products are 3.20 billion yuan for 2025, 3.30 billion yuan for 2026, and 3.40 billion yuan for 2027.

The annual caps proposed for the purchase of Shougang Group products are 120 million yuan for 2025, 232 million yuan for 2026, and 320.2 million yuan for 2027.

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