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Boreton signs letter of intent with Inhoyi to sell electric mining trucks and invest in mining equipment in three African countries
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Borreton (01333) announced via a filing that it has signed a non-binding letter of intent (LOI) with INHOYI INVESTMENTS (PRIVATE) LIMITED (Inhoyi) to establish a long-term cooperation in electric mining truck sales agency and mining equipment investment operations in Africa. The LOI will expire on September 26, 2036. Key terms include Borreton's intention to appoint Inhoyi as a non-exclusive agent for marketing, sales, and customer maintenance of its electric mining trucks in Zambia, Zimbabwe, and Mozambique. Borreton also intends to design, procure, build, and operate solar-plus-storage equipment (30MWp PV + 60MWh storage) and select and procure mining equipment, with the intention to sell these assets to Inhoyi after completion and provide long-term maintenance services. Additionally, after the equipment investment is completed and the mining project generates sales revenue, Inhoyi intends to share the project profits with Borreton. The company stated that the LOI will help expand its electric mining truck sales agency and mining equipment investment operations in Africa, further promoting its technology and products in the pure electric engineering equipment field.
Source report
**Hong Kong, [Date] – Brelyon (01333) has announced the signing of a non-binding letter of intent (LOI) with INHOYI INVESTMENTS (PRIVATE) LIMITED ("Inhoyi"), outlining a framework for long-term cooperation in the sales agency of electric mining trucks and the investment and operation of mining equipment.
The LOI, which will remain in effect until September 26, 2036, establishes the basis for a strategic partnership between the two parties.
Key Terms of the Letter of Intent
1. Agency Authorization
Brelyon intends to appoint Inhoyi as a non-exclusive agent, at an appropriate time, to handle the marketing, sales, and customer maintenance of Brelyon's electric mining truck products within the authorized region, which includes:
- The Republic of Zambia
- The Republic of Zimbabwe
- The Republic of Mozambique
2. Equipment Investment and Sales
Brelyon intends to undertake, at an appropriate time, the design, procurement, construction, and operation of solar-plus-storage equipment (30 MWp photovoltaic + 60 MWh energy storage), as well as the selection and procurement of mining equipment. Upon completion of construction or procurement, Brelyon or its affiliates intend to sell the subject equipment to Inhoyi and provide long-term operation and maintenance services.
3. Profit Sharing
The parties intend that, following the completion of the equipment investment and the generation of sales revenue from the mining project, Inhoyi will share the profits from the mining project with Brelyon.
Strategic Significance
The LOI is expected to support Brelyon's expansion in Africa by developing its electric mining truck sales agency and mining equipment investment and operation business, further promoting the company's technology and products in the field of pure electric engineering equipment.
Source
智通财经Neutral / independent