SouthGobi Resources Signs Strategic Alliance Agreement With Winsway Coking Coal Holdings; Winsway to Purchase 3.2 Million Tonnes of Coal in 2011
Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. (TSX: SGQ)(SEHK: 1878), announced today that the company has signed a Strategic Alliance Agreement with Winsway Coking Coal Holdings Ltd. ("Winsway" HK: 1733) and a contract for the sale of 3.2 million tonnes of coal in 2011.
Under the Strategic Alliance Agreement, SouthGobi commits to sell at least two million tonnes of coal to Winsway per year. Winsway will work with SouthGobi to increase the market value of SouthGobi's Mongolian coal and Winsway will provide priority access to its logistics assets. The agreement has a five-year term. Any specific future coal sales will be subject to mutual agreement on terms, including pricing.
- Published: 06 December 2010
- Written by Editor