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PrintYue Da Mining Holdings Ltd, a Hong Kong-based investment holding company, announced that it has entered into a strategic cooperation framework agreement with Kunming Steel Co, a unit of Wugang Group.
Pursuant to the 10-year cooperation agreement, Yue Da Mining will supply a minimum of 150,000 tons of high-grade common iron ore concentrate to Kunming Steel annually.
The agreement, to take effect from Dec. 1, 2008, will further help enhance the company's sales, said Yue Da Mining.
Wugang Group is one of the largest steel and iron products makers in China.
Shares of Yue Da Ming rocketed 22% to close at HK$0.61 on Thursday.
(China Knowledge)
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