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BRIEF-Aditya Birla Minerals says unit concludes annual MOA with Hindalco Industries

Published 25/02/2016, 06:56 pm
© Reuters.  BRIEF-Aditya Birla Minerals says unit concludes annual MOA with Hindalco Industries
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Feb 25 (Reuters) - Aditya Birla Minerals Ltd ABY.AX :

* 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

* Source text for Eikon ID:nASX81CMtC

*

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