Greentech Technology International Ltd. said Jan. 31 that its YT Parksong Australia Holding Pty. Ltd. unit renewed a tin supply deal with Yunnan Tin Co. Ltd. subsidiary Yunnan Tin Australia TDK Resources Pty. Ltd. for another three years.
YT Parksong is held by Yunnan Tin Hong Kong (Holding) Group Co., Ltd., which is 82%-owned by Greentech's Parksong Mining & Resource Recycling Ltd. unit and 18% by Yunnan Tin.
The original three-year deal between YT Parksong and Yunnan Tin Australia expired Jan. 31, while the new contract will last from Feb. 1 to Jan. 31, 2022.
The new deal covers the supply of between 2,400 and 6,000 wet tonnes of tin concentrates per annum, including monthly shipments of about 200 to 500 wet tonnes, from Greentech's Renison tin joint venture with Metals X Ltd. in Tasmania, Australia.
Pricing of tin concentrates will be based on the average London Metal Exchange cash settlement price of tin metal within a 45-day quotational period, and subject to relevant deductions, penalties and treatment charges.
The deal has an annual cap of HK$480 million for 2019, HK$633 million for 2020, HK$765 million for 2021 and HK$77 million for 2022.
Greentech said it will explore further investment opportunities with Yunnan Tin, which has the world's largest production and manufacturing base for tin metal.