on HMS Bergbau AG (ETR:HMU)
HMS Bergbau Secures Chrome Ore Supply with Exclusive Agreement
HMS Bergbau AG, a German commodities trading company, has signed an exclusive agreement with South African mining firm Mantengu Ltd. This offtake agreement grants HMS Bergbau sole purchase rights to chrome ore from Mantengu's Langpan mine. The deal is set for a minimum of eight years, covering the mine's output of 40,000 tonnes per quarter, with potential expansion to 70,000 tonnes.
The agreement replaces a previous distributor, aligning with HMS Bergbau's diversification strategy. The global chrome ore market, valued at USD 4.5 billion, benefits from rising demand driven by industries such as stainless steel production and electric vehicles.
Dennis Schwindt, CEO of HMS Bergbau, highlighted the deal's significance in their market expansion and diversification efforts. The Langpan mine's production and infrastructure facilitate HMS Bergbau's role as the sole marketer of its chrome ore output.
R. E.
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