Suvo strategic minerals Limited signed major take or pay offtake agreement.

Suvo strategic minerals Limited (ASX: SUV) announced signing a significant take or pay Offtake Agreement with Chaozhou Chengcheng Industrial Co., Ltd.

This supply agreement covers a minimum order quantity of 4,275 tonnes of hydrous kaolin over a three-year term. As per this deal, the hydrous kaolin will be used in the inks and pharmaceutical sectors, with the contract valued at between AU$3.25 million to AU$3.50 million, depending on delivery location and a forecast exchange rate of USD: AUD 0.64:1.

The company has also signed a legally binding supply contract with C&D Logistics Group Co Ltd for the delivery of an additional 80 tonnes (5 x 16-tonne containers) of Pittong hydrous kaolin product to be further used in the next round of commercial-scale trials. Of importance, the product supplied under this agreement is earmarked for the inks sector, which commands a pricing premium.

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