On July 24, 2024, Nui Phao Mining signed a Memorandum of Understanding (MOU) with Fluorine Korea and Traxys North America LLC to ensure the stable supply of acid-grade fluorspar to Fluorine Korea's AHF plant in Ulsan, South Korea.
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| Nui Phao Mining signed a Memorandum of Understanding (MOU) with Fluorine Korea and Traxys North America LLC. |
According to theMOU, Nui Phao Mining will make available a stable supply of acid-grade fluorspar of up to 70,000 tons per year, to Fluorine Korea's AHF plant, expected to be operational by 2026. Any future offtake agreement will be subject to mutually agreeable commercial terms to be negotiated between the two parties. Traxys North America LLC, the exclusive international distributor of Nui Phao's acid fluorspar, will distribute the product. This agreement also paves the way for product advancements and project opportunities for both parties.
Committed to producing the highest quality Acidgrade Fluorspar materials and ensuring sustainable supply, Nui Phao has continually improved its standards over the years to meet growing market demands. The Company is committed to providing advanced solutions that contribute to the sustainable development of the world's high-tech industries. Fluorine Korea, which aims to supply Fluorine products into critical industries such as semiconductor manufacturing, secondary battery production, and energy, will depend on Nui Phao's supply to produce and distribute advanced materials worldwide.
This cooperation strengthens Nui Phao's position as a leading global supplier of high-tech materials and opens opportunities for the company to grow its market share of the South Korean market, one of Asia's strongest industrial centers. Backed by a long-standing reputation and extensive experience in the downstream Fluorine products business, Fluorine Korea will be a key strategic partner in further expanding Nui Phao's presence in South Korea and other demanding markets in the region.
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