Sinoma International Wholly-owned Company Consortium Wins 2.7 Billion Contracts!

December 4, Sinoma International issued a notice on the signing of business contracts by wholly-owned companies.

The announcement shows that recently, Yanzhou China Material Construction Co., Ltd. (Hereinafter referred to as "Contractor"), a wholly-owned company of China Material International, and Tianjin Cement Industry Design and Research Institute Co., Ltd. Signed the PC General Contract for Dashihe Molybdenum Mine Mining and Dressing Project of Jilin Jinshan Investment Co., Ltd. with Jilin Jinshan Investment Co., Ltd. (Hereinafter referred to as the "Employer"), with the total contract amount tentatively set at RMB 2.7 billion. The details are as follows: The project is located in Dunhua City, Yanbian Korean Autonomous Prefecture, Jilin Province. The contract content is that the comprehensive processing capacity of molybdenum mining and mineral processing is 15000t/d, mainly including equipment and material procurement, construction and construction management.

The Contract shall come into force after being signed and sealed by the legal representatives or authorized representatives of the Employer and the Contractor. The contract duration is the number of calendar days from the date of signing the commencement order to the completion of the project (with formal production and operation conditions, reaching the comprehensive processing capacity of molybdenum ore mining and dressing of 15000t/d). It is estimated that the construction duration will be 15 months and the trial production will be 3 months, totaling 18 months.

In addition, the contract stipulates the winter construction fee adjustment scheme and price adjustment mechanism, price changes caused by price fluctuations, and the project settlement stage is based on the price of steel and commercial concrete for construction and installation in the construction stage of the project, which is based on the project cost issued by the construction cost management station of Dunhua City, Yanbian Korean Autonomous Prefecture, on the effective date of the contract. If the fluctuation is less than or equal to 10%, no adjustment shall be made; if the fluctuation is more than 10%, both parties shall make adjustment for the part exceeding or reduced by 10%.