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News: ABY Aditya Birla Minerals says unit concludes annual MOA with Hindalco Industries

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    Feb 25 (Reuters) - Aditya Birla Minerals Ltd (ABY) :

    • Says memorandum of agreement for the period 1 January 2016 to 31 December

      2016

    • By agreement dated 25 January 2006, Birla Nifty to sell, and Hindalco to

      purchase, all copper in concentrate produced at Nifty copper mine for LOM

    • Hindalco will pay co Nifty a provisional payment of 90% of provisional

      invoice value three working days after date of arrival of vessel at disport

    • Price Hindalco must pay Birla Nifty is governed by the Nifty concentrate

      sales agreement and yearly MOA

    • Price payable is the sum of the payments for payable copper in concentrate

      minus TC/RCS

                            
 
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