China's Luda Technology Signs 440,000-Tonne Mongolian Coal Supply Agreement

en.Wedoany.com Reported - On October 21, Luda Technology Group, a Hong Kong, China-based company listed in the United States, announced its entry into Mongolia's coal trade market with China, having signed thermal coal supply agreements totaling 440,000 tonnes with two Chinese customers, each purchasing 220,000 tonnes, with a supply period of approximately one year. The company also signed a coal purchase agreement with a Mongolian supplier, establishing a cross-border trade arrangement involving procurement from Mongolia and sales to Chinese customers.

Under the contract terms, Luda Technology is required to supply 20,000 tonnes of thermal coal to each of the two Chinese customers by November 30, 2026, with a total first-batch delivery of 40,000 tonnes. The remaining 200,000 tonnes per customer is scheduled for completion by October 14, 2027, corresponding to a total subsequent delivery of 400,000 tonnes.

The coal is sourced from the Tsogttsetsii area of South Gobi Province, Mongolia. Luda Technology will act as a trade intermediary between the Mongolian supplier and the Chinese buyers, organizing coal procurement, quality inspection, weight verification, cross-border logistics coordination, and transaction settlement. The company has not yet disclosed the names of the Mongolian supplier or the two Chinese customers.

The signed purchase and sales agreements specify the coal supply volumes for both parties but do not lock in unit prices or total contract amounts. The price of each coal batch will be confirmed separately prior to payment and shipment based on market conditions. The company plans to use the first batch of orders to establish coal quality inspection, weight verification, and settlement procedures as the execution foundation for subsequent cross-border bulk commodity trading.

Luda Technology's existing business includes the manufacturing and trading of industrial steel products such as stainless steel and carbon steel flanges and pipe fittings. Ma Biao, Chairman and Chief Executive Officer of the company, stated that coal trading will become the group's first area of expansion into bulk commodities. The company plans to evaluate trading opportunities in fluorspar, tungsten, iron ore, rare earths, and copper products while fulfilling existing coal contracts, and has not yet signed formal agreements for these additional categories.