Creative C&T Secures Exclusive East Asian Rights to Russian Mineral Resources

Creative C&T Corporation, based in Daegu, has signed a Memorandum of Agreement (MOA) with UMMC (Ural Mining and Metallurgical Company) Group, the leading mineral resource development company in Russia. This agreement grants Creative C&T exclusive rights to import and sell Russian-produced mineral resources, including copper and rare earth metals, throughout East Asia.

UMMC Group, which controls approximately 40% of copper and zinc production and about 50% of lead production in Russia, will enable Creative C&T to establish a robust supply chain across East Asia. The deal is expected to extend to major markets like Japan and China, enhancing regional industrial competitiveness.

Creative C&T also signed a mineral import and export contract with CSCEC, the world's largest construction company. This partnership is set to mitigate the high commodity prices and address supply and demand imbalances, prioritizing domestic supply within China.

CEO Kim Jong-jin's Statement

CEO Kim Jong-jin emphasized the significance of this exclusive contract with UMMC Group, highlighting the cost competitiveness of the secured mineral resources. He expressed confidence that the MOA would alleviate uncertainties in the domestic raw material market, which heavily relies on China and a few other countries. The establishment of a stable supply chain is anticipated to fortify domestic industrial competitiveness.