Anzo enters into copper scrap supply agreement with CSTME Resources

PETALING JAYA: Anzo Bhd has entered into a supply agreement with CSTME Resources Sdn Bhd, in which CSTME has agreed to purchase birch/cliff copper scrap or berry/candy copper scrap for a total contract value of RM1.3 billion.

Under the agrement, Anzo will supply up to 60,000 metric tonnes of the products to CSTME at RM23,000 per metric tonne for the supply term of 40 months.

“The company is expected to Strengthen its trading business for sustainable earnings in a long period of time and create business opportunities in international export market,” it said in its Bursa filing.