Additional Information
Market: AIM
Sector: Real Estate
EPIC: PMHL
Latest Price: 86.50p  (0,00%)
52-week High: 131.00p
52-week Low: 67.00p
Market Cap: 124.03M
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Prosperity Minerals
www.pmhl.co.uk

Prosperity is an  iron ore trader serving customers in the People's Republic of China (the 'PRC') and holds investments in entities involved in the manufacture and sale of cement and clinker in the same market.

Prosperity also has a real estate division and has recently entered into a number of conditional agreements designed to build up a portfolio of PRC property and development assets.

Pdf

Prosperity Minerals agrees new iron ore supply deal

15th Nov 2011, 9:21 am by Jamie Ashcroft Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore

Prosperity Minerals (LON:PMHL) today announced that its wholly-owned iron trading subsidiary has signed a new deal.

Prosperity Materials Macao Commercial Offshore Ltd (PMMC) has agreed to supply Jiangsu Prosperity Steel with up to 1.81 million tonnes of iron ore over a 14 month period.

This will be capped at 130,000 tonnes to the end of 2011, and 1.68 million tonnes in 2012. 

PMMC will also provide a range of administrative services, including the handling of shipping documents and liaising with payment banks.  

PMMC will receive a commission of US$2 per dry metric tonne of iron ore. 

It will also receive a handling charge of US$2 per dry tonne of iron ore, if the letter of credit in relation to shipment includes payment terms of 90 days.

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