Recently, Pangang Group Chengdu Vanadium Titanium Resources Development Co., Ltd. (hereinafter referred to as "Chengdu Vanadium Titanium Trading"), a wholly-owned subsidiary of Pangang Group Vanadium Titanium Resources Co., Ltd., and Dalian Rongke signed the "2024 Vanadium Energy Storage Raw Materials Cooperation Annual Framework Agreement" in Chengdu, Sichuan Province. In order to achieve a more comprehensive, long-term and stable win-win cooperation, the two parties reached a consensus on the 2024 cooperation after friendly negotiations and signed an agreement.
Main contents of the agreement
Party A: Panzhihua Iron and Steel Group Chengdu Vanadium Titanium Resources Development Co., Ltd.
Party B: Dalian Rongke Energy Storage Group Co., Ltd.
(I) Term of the Agreement
From January 1, 2024 to December 31, 2024.
2. Cooperation Model
Party A and Party B adopt a cooperative model for the purchase and sale of ammonium polyvanadate raw materials. Party A promises to give priority to ensuring the balanced supply of Party B's products to ensure Party B's production needs. Party B promises that all raw materials will be used in the field of vanadium energy storage, and Party A will be used as the main supply channel, and the required raw materials will be purchased from Party A in a stable and preferential manner.
(III) Quantity Annual total quantity: 16,000 tons of vanadium pentoxide, ±10% over- or under-loading. (This quantity does not include the raw materials required for the vanadium energy storage joint venture established by the Company and Party B and other special major energy storage projects)
(IV) Pricing principles
Based on the changes in the market price of vanadium products, the specific monthly price is determined through negotiation and the relevant companies of both parties sign a monthly contract.
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