Clean TeQ Holdings Limited (ASX: CLQ) today announced their selection of Metallurgical Corporation of China Ltd (MCC) as a key project delivery partner for the Clean TeQ Sunrise Project, a sunrise nickel cobalt scandiums project in New South Wales.
Headquartered in Beijing, MCC is a China’s largest mining and metals engineering and construction group. It is a part of China’s mining company China Minmetals Corporation.
The heads of agreement were signed by both the parties for a fixed-price EPC contract covering detailed engineering and on-site construction of the project. The arrangement of EPC contract was made to avoid any financial and project execution risk.
Following this agreement, Clean TeQ and MCC indicated their next move to finalise negotiations on the Front-End-Engineering and Design (FEED) contract, which is expected to be concluded in few weeks.
CLQ is trading at $0.545 showing no daily price movement on 30 August 2018 (5:07 PM AEST).
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