AMG Advanced Metallurgical Group N.V. plans to amend the pricing and payment structure of the long-term tantalum sales contract of AMG Mineração, Brazil, with its major customer, Global Advanced Metals USA (GAM US).
AMG will receive a cash payment from GAM US and a 10% interest in Global Advanced Metals Pty Ltd, the parent company of GAM US. GAM is majority owned by Resource Capital Funds, Denver, U.S.A. The restructured contract will not materially impact AMG's earnings and cash flow forecast.
‘In revising the contract terms with our major customer we have found a win-win solution,’ said Heinz Schimmelbusch, AMG's CEO. ‘The 10% shareholding is combined with a board seat of GAM and is another step in our relationship with GAM and Resource Capital Funds.’
This story is reprinted from material from AMG, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
