Supplemental AgreementSupply Agreement |
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WITS BASIN PRECIOUS MINERALS INC | China Global Mining Resources Limited | Shanxi Hua Ze Nickel Smelting Co, Ltd | Sino-American Hua Ze Nickel & Cobalt Metal Co, Ltd. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Exhibit 10.43
Supplemental Agreement
This
is a Supplemental Agreement to the terms of the joint venture
agreement between Shanxi Hua Ze Nickel Smelting Co., Ltd and
China Global Mining Resources Limited for the establishment of
Sino-American Hua Ze Nickel & Cobalt Metal Co., Ltd
(“Joint Venture”) dated 14 April 2007 (“JV
Agreement”).
This
Supplemental Agreement sets out an indicative timetable for
the payment of capital to the Joint Venture. Except for the
making of the payment on 20 June 2007, the making of each of
these capital payments is subject to the establishment of the
Joint Venture and the opening of its registered capital
account and the satisfactory completion of legal, accounting
and technical due diligence and shall be made to the
registered capital account of the JV.
Revised Payment Schedule to the JV Agreement
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Date
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Note
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Amount (RMB million)
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20
June 2007
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1, 4
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15,460,000
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5
July 2007
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23,190,000
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5
August 2007
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38,650,000
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30
September 2007
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77,300,000
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31
October 2007
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77,300,000
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31
December 2007
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193,250,000
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Sub-total
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2
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425,150,000
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31
December 2007
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3
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154,600,000
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Total
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5
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579,750,000
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Notes:
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The
payment of RMB15,460,000 on 20 June 2007 is subject to the
execution of a supply agreement between Shanxi Hua Ze Nickel
Smelting Co., Ltd and China Global Mining Resources Limited for the
purchase by China Global Mining Resources Limited of fourty (40)
metric tonnes of electrolytic nickel (>99%). Shanxi Hua Ze
Nickel Smelting Co., Ltd shall engage an import export agent to
export the processed nickel cobalt to China Global Mining Resources
Limited. The payment
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