News Release

NFC Signs Strategetic Cooperation Agreement on Dairi Project with BRMS

Source:NFC    Publish Date:2013-10-25
On October 22nd, NFC signed a strategetic cooperation agreement at headquarters with Indonesian PT BUMI RESOURCES MINERALS TBKBRMS ("BRMS") on developing Dairi lead and zinc mine of PT Dairi Prima Mineral ("PTDPM") which is held by BRMS. According to JORC standard, Dairi project has mineral resources of 25.1 million tons with average zinc grade at 10.1% and lead grade at 6.0%, containing zinc metal of 2.56 million tons and lead metal of 1.50 million tons. In UBS statistic data, Dairi project ranks 13th in term of resource tonnage and 1st in term of lead + zinc grade among the 300 zinc-lead projects waiting to be developed in the world currently. According to the agreement, NFC will help to obtain buyer’s credit financing from Chinese banks and cooperate with BRMS as the exclusive EPC contractor of Dairi project. NFC is also entitled to an equity purchase option up to 29% of total issued shares of PTDPM based on the financing success, as well as an offtake right between 51-65% of the project’s zinc and lead products in the future.

Mr. Suseno Kramadibrat, CEO of BRMS and Mr. Wang Hongqian, president of NFC shaking hands after signing agreement