Suvo Strategic Minerals Limited (ASX: SUV) has extended a major sales contract with Norske Skog until December 2027. The sales contract covers the supply of Suvo’s hydrous kaolin product to the buyer, who estimates it will purchase between 21,000 to 24,000t over the term.
Suvo Strategic Minerals Limited has reached an agreement with Norske Skog to extend the supply of hydrous kaolin from Pittong for an additional three years. Under this new contract, which begins in January 2025, Norske Skog estimates it will purchase between 21,000 and 24,000t of hydrous kaolin over the term. This represents a significant increase compared to the approximately 16,300t supplied under the previous three-year contract. The terms and conditions of the new agreement remain the same as the previous contract, including a CPI price adjustment.
Executive Chairman Aaron Banks commented, “We welcome this contract extension with Norske Skog which demonstrates Suvo’s ability to supply large quantities of kaolin products. The increase in demand from one of our major customers means that we anticipate significant growth in sales volumes in 2025 based on orders from existing customers”
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