Minerals Corporation (MSC) is pleased to announce a confirmed order for the supply of low carbon cement product for the 2010 year spread over regular part shipments during the year. This is their first confirmed major export order and it will operate under a letter of credit payment arrangement to assist the Company’s working capital. The buyer operates in three Asian countries as well as Southern China and, subject to market acceptance, the Parties agree that volumes in ensuing years could reasonably triple in volume versus the above initial order.
The Agreement with the customer includes a 50/50 profit share on available carbon credit income that may become available from these future sales. The buyer also operates a fleet of bulk carriers and the Parties are in discussions to work together to investigate additional potentially mutually profitable business for further sales within the Asian and Middle East regions.
MSC has commissioned a world class china clay (kaolin) project at Skardon River, in northern Queensland which is currently in the marketing roll out stage. Additional premium quality kaolin projects are being developed in China and Western Australia which will transform MSC into a leading regional based supplier with a full range of exceptionally high grade kaolin products for the paper, paint, concrete, polymer, cosmetic, pharmaceutical and ceramic industries focused on S. E. Asia and selected world markets.
Tags: Construction, Minerals Corporation, MSC, New contract
