MMG Limited (1208) announced that on 30 October 2025, Khoemacau Copper Mining (Pty) Ltd entered into a Logistics Services Agreement with Minmetals Logistics Group Co., Ltd for the transportation of copper concentrate. Minmetals Logistics is a subsidiary of China Minmetals Corporation (CMC), the ultimate controlling shareholder of MMG Limited, making the arrangement a continuing connected transaction under the Hong Kong Listing Rules.

Under the agreement, Minmetals Logistics will provide sea and overland shipping services from the Boseto processing facility at the Khoemacau Mine in Botswana to a designated port in the People’s Republic of China. The term is 12 months from 1 January 2026, with an option to extend for an additional 12 months and a further 3 months, if needed. The pricing will be set in US dollars and based on prevailing market freight rates. Khoemacau Copper may also seek proposals from multiple logistics providers every three months to evaluate the most suitable option.

The annual cap for the agreement is US$30 million, determined by projected shipment volumes, freight rates, and overseas transport costs. Given that certain percentage ratios exceed 0.1% but remain below 5%, the arrangement is subject to the reporting, annual review, and announcement requirements but is exempt from independent shareholders’ approval under Chapter 14A of the Listing Rules.

The Board of MMG Limited views the agreement as a commercial arrangement in the ordinary course of business, providing specialized logistics support to meet delivery obligations and manage production schedules for copper concentrate. MMG Limited is engaged in the exploration, development, and mining of a range of mineral deposits, including copper, zinc, and other metals, while Minmetals Logistics specializes in bulk ocean transport and related logistics services.