DUGALD RIVER ZINC CONCENTRATE SALE AGREEMENT. As part of the ordinary and usual course of business, the Group sells its products to the CMC Group. On 27 May 2022 the Seller entered into the Dugald River Zinc Concentrate Sale Agreement with Minmetals North-Europe in relation to the sale of the Product to Minmetals North-Europe. The principal terms of the Dugald River Zinc Concentrate Sale Agreement are set out below.
DUGALD RIVER ZINC CONCENTRATE SALE AGREEMENT. As part of the ordinary and usual course of business, the Group sells its products to the CMC Group. On 27 March 2020 the Seller entered into the Dugald River Zinc Concentrate Sale Agreement with Minmetals North-Europe in relation to the sale of the Product to Minmetals North-Europe. The principal terms of the Dugald River Zinc Concentrate Sale Agreement are set out below. Parties : (1) Seller: MMG Dugald River (2) Buyer: Minmetals North-Europe Term : From the date of the Dugald River Zinc Concentrate Sale Agreement until all obligations of the parties are fulfilled. Quantity : Approximately 10,000 dry metric tonnes of Product (+/- 10% at Seller’s option). Pricing : The pricing of the concentrate was determined after arm’s length negotiations and is comparable with the market for concentrate qualities such as Dugald River zinc concentrate. Prices shall be: • calculated based on agreed amounts of: o zinc contained in the Product at the Special High Grade Settlement Price for zinc as quoted on the London Metal Exchange; and o silver contained in the Product at London Bullion Market Association Silver Price spot quotation, each averaged over the agreed quotational period; • less an agreed treatment charge which is consistent with treatment charges prevailing for comparable sales of zinc concentrate at the time of this Agreement.
