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Borenton signs LOI with Inhoyi to promote electric mining trucks and mining equipment investment in three African countries
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Boreton (01333) announced via a filing that it has signed a 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 Boreton'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. Boreton also intends to design, procure, build, and operate solar-plus-storage equipment (30MWp PV + 60MWh storage) and select mining equipment, with the option 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 Boreton. The company stated that the LOI will help it 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) announced today that it has entered into a non-binding letter of intent (LOI) with Inhoyi Investments (Private) Limited ("Inhoyi"), outlining a framework for a long-term strategic partnership in the sales agency of electric mining trucks and the investment and operation of mining equipment.
The LOI will remain in effect until September 26, 2036.
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 be responsible for 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, operation, and maintenance of solar-plus-storage equipment (30 MWp photovoltaic + 60 MWh energy storage)
- The selection and procurement of mining equipment
Upon completion of construction or procurement, Brelyon or its affiliates intend to sell the equipment to Inhoyi and provide long-term operation and maintenance services.
3. Profit Sharing
Following the completion of the equipment investment and the generation of sales revenue from the mining project, Inhoyi intends to share a portion of the project profits with Brelyon.
Strategic Significance
The LOI is expected to support Brelyon's expansion in Africa by:
- Developing its electric mining truck sales agency network
- Expanding its mining equipment investment and operation business
- Further promoting its technology and products in the field of pure electric engineering equipment
Source
智通财经Neutral / independent