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Boleiton Signs Letter of Intent with Inhoyi Investments for Electric Mining Truck Sales and Mine Equipment Operations in Three African Countries
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Boreton (01333) announced it has signed a non-binding letter of intent (LOI) with Inhoyi Investments (Private) Limited, aiming to establish a long-term cooperation in electric mining truck sales agency and mining equipment investment operations. The LOI, valid until September 26, 2036, outlines plans to appoint Inhoyi as a non-exclusive agent for Boreton's electric mining trucks in Zambia, Zimbabwe, and Mozambique. Boreton also intends to design, procure, and build solar-plus-storage facilities (30MWp solar + 60MWh storage) and select mining equipment, then sell these assets to Inhoyi and provide long-term maintenance services. After the equipment investment is completed and the mining project generates revenue, Inhoyi will share project profits with Boreton. The agreement is expected to help Boreton expand its electric mining truck sales agency and mining equipment investment operations in Africa, promoting its pure electric engineering equipment technology and products.
Source report
BreLton (01333) has issued an announcement regarding the signing of a non-binding letter of intent (the "Letter of Intent") with Inhoyi Investments (Private) Limited ("Inhoyi"). The two parties (collectively, the "Parties"; each, a "Party") intend to establish a long-term cooperative relationship in the areas of electric mining truck sales agency and mining equipment investment and operations. The Letter of Intent will remain in effect until September 26, 2036.
Key Terms of the Letter of Intent
- Agency Authorization: BreLton intends to appoint Inhoyi as a non-exclusive agent, at an appropriate time, to be responsible for the marketing, sales, and customer maintenance of BreLton's electric mining truck products within the authorized territory, which includes the Republic of Zambia, the Republic of Zimbabwe, and the Republic of Mozambique.
- Target Equipment Investment and Sales: BreLton 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, BreLton or its affiliates intend to sell the target equipment to Inhoyi and provide long-term operation and maintenance services.
- Profit Sharing: The Parties intend that, after the completion of the target equipment investment and the realization of sales revenue from the mining project, Inhoyi will share the profits from the mining project with BreLton.
Strategic Significance
The Letter of Intent is expected to support BreLton in expanding its electric mining truck sales agency and mining equipment investment and operations business in Africa, further promoting the company's technology and products in the field of pure electric engineering equipment.
Source
新浪财经Neutral / independent
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Boreton signs LOI with Inhoyi for electric mining truck sales and solar-storage in Africa