On January 18, 2024, the Company entered into a Base Agreement for Purchase of Graphite Ore with Madagascar Graphite Limited (MGL), which was amended on March 22, 2024, to secure a long-term supply of graphite ore. MGL owns a significant graphite mining area in Madagascar with substantial reserves. Under the agreement, the Company will pay MGL $200 per metric ton of refined graphite powder output through the issuance of common stock shares valued at $0.50 per share, with payments made quarterly. MGL is responsible for mining and transporting the graphite ore to the Company's warehousing facility in Tamatave, Madagascar. As a graphite trading company without manufacturing facilities, the Company outsources processing and production to third-party partners who manage manufacturing, transportation, insurance, customs brokerage, and delivery of graphite products to customers under the Company's supervision.
Scientific Energy Inc's Comment on Supply Chain
On January 18, 2024, the Company entered into a Base Agreement for Purchase of Graphite Ore with Madagascar Graphite Limited (MGL), which was amended on March 22, 2024, to secure a long-term supply of graphite ore. MGL owns a significant graphite mining area in Madagascar with substantial reserves. Under the agreement, the Company will pay MGL $200 per metric ton of refined graphite powder output through the issuance of common stock shares valued at $0.50 per share, with payments made quarterly. MGL is responsible for mining and transporting the graphite ore to the Company's warehousing facility in Tamatave, Madagascar. As a graphite trading company without manufacturing facilities, the Company outsources processing and production to third-party partners who manage manufacturing, transportation, insurance, customs brokerage, and delivery of graphite products to customers under the Company's supervision.
Sources:
Scientific Energy Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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