Cyber Credit Natural Resources Group (Cayman Islands) Limited –
Investor Communications:
Announcement of Coupon Distribution in Aug 2020
COUPON It is resolved by the board that the payment of a bi-monthly coupon of USDT0.025 per token will be payable on 21st September 2020. COMPANY NEWS COPPER MINE RESUMES PRODUCTION In the first half of 2020, the COVID-19 continued spreading globally. On 12th March, the Peruvian government declared the country entered a 90-day health emergency. On 15th March, the Peruvian government issued the highest decree and imposed national martial law. The Peruvian mining industry therefore halted the copper mining production and cooperated with the government to fight the COVID-19. Although the COVID-19 has greatly affected the Peruvian mining industry in terms of production and construction, the Peruvian mining industry will resume production after a few months of efforts to fight the COVID-19. From 1st September, 2020, the Peruvian copper mine Rico LeonMag 3 of Cyber Credit Natural Resources Group Limited will resume its productions. The Copper mine will strictly comply with Peruvian government requirements to ensure that the epidemic prevention measures are implemented and to avoid cross-infection to the greatest extent during the copper mine’s resumption. At the same time, the company will keep track on the health information of every employee and ensure the accuracy of the reported health conditions of miners and related personnel, so that the copper mine production can be resumed smoothly. THE GROWTH OF COPPER DEMAND Due to the COVID-19, many countries have implemented lockdown measures. Many major copper mines around the world, such as Chile, Peru, and Australia, have halted the production of copper. As a result, the copper supply has fallen sharply in the first half year of 2020. Copper is widely used in electricity, real estate, automobiles and other fields. Since countries around the world are accelerating researches and development of 5G, Internet of Things, smart homes, electric vehicles and other technologies, the investment in copper materials will be greatly increased. The trend will provide a long-term support for the growth of copper demand. Therefore, the copper metal market is expected to show a relatively long-term supply shortage. According to the London Metal Exchange (LME), the price of copper has soared from a low of US$4,300 per ton in mid-March to a level of US$6,800 per ton recently, with an increase of nearly 60%. Due to the inelastic demand of the market, different buyers have negotiated the supply of copper concentrates, including long-term and short-term supply, with the group after the copper mine resumed production. We believe that this situation will be beneficial to business growth. Cyber Credit Natural Resources Group (Cayman Islands) Limited Hong Kong, 21 September 2020 |
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