(Yicai Global) Oct. 18 -- Guangdong Silver Age Sci & Tech Co. [SHE:300221] will ply cooperation with a company in the Democratic Republic of the Congo (the Congo) to ensure relevant cobalt ore supplies of 3,000 tons of metal equivalent each year to satisfy the raw material demand for the former's strategic positioning in the new energy field.
Silver Age has entered into a strategic cooperation agreement with the Congolese firm Huachin SARL, Silver Age announced yesterday.
Huachin SARL will help Silver Age and its holding company target local mines to achieve substantial long-term resource control. Before then, it will strive to provide Silver Age with raw cobalt ore equivalent to 3,000 tons of smelted metal each year, the agreement recites.
Silver Age and its holding company will set up a cobalt ore smelter in the Congo with an annual output of 3,000 tons of metal equivalent, and Huachin SARL will invest in or support the supply of raw materials based on actual conditions, the announcement noted.
Huachin SARL is a private enterprise with many years' successful business experience and a sound business platform and local resources. It has made impressive achievements in smelting, mining and supplying ore to domestic cobalt producers, per the announcement.