Document:

ex_149457.htm

 

Exhibit 10.25

 

Exclusive Agreement

 

Party A: Qinghai Zhongtian Boron and Lithium Science & Technology Co., Ltd. (hereinafter referred to as Party A)

 

Party B: Qinghai Zhongtian Boron and Lithium Mining Co., Ltd. (hereinafter referred to as Party B)

 

Based upon good trust, in consideration of the long-term development strategy of both parties, the following agreement has been reached after friendly negotiation between the two parties.

 

1.0 Cooperation Programme

 

1.1 Purpose of Cooperation

 

The purpose of cooperation between Party A and Party B is to create a win-win situation and establish a sustainable development strategic partnership through close cooperation between each other.

 

1.2 Cooperation Content

 

1.2.1 Cooperation between the two parties is exclusive. All products of Party B are determined to be supplied only to Party A;

 

1.2.2 Party B's boron ore products (with a grade of not less than 5%) are sold to Party A at 60 yuan per ton. The sales price is adjusted according to the actual annual mining cost. The annual price increase cannot exceed 5%. The annual supply of boron ore is based on Party A's production demand. Supply monthly supply of not less than 20,000 tons.

 

1.3 Cooperation Term

 

The cooperation term between the two parties is from January 1, 2019 to August 31, 2037.

 

2.0 Rights and Obligations of Both Parties

 

Strategic cooperation requires the joint efforts of both parties to achieve the desired results. Therefore, the rights and obligations of both parties are regulated as follows:

 

2.1 Rights of Party A and Party B

 

	 	
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			Both Party A and Party B have the right to request the other party to provide services stipulated in the contract.

			

	 	
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			Both Party A and Party B enjoy the economic rights and interests stipulated in this contract.

			

	 	
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			Both Party A and Party B enjoy the right of requiring for economic compensation for losses caused by the other party’s failure to perform relevant agreement and project responsibilities.

			

	 	
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			2.2 Obligations of Party A and Party B

			

	 	
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			Both Party A and Party B shall perform obligations as scheduled in this agreement.

			

	 	
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			It is the two parties’ obligation to advance and complete the project undertaken by both parties as planned.

			

	 	
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			The two parties should make full use of their industry influence and strategic partnership to provide favorable conditions for developing business and constructing sales channels.

			

	 	
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			Both Party A and Party B have the obligation to strictly manage product quality and must not damage the image and interests of both parties.

			

	 	
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			Party A and Party B shall be responsible for providing relevant training for teams of both parties.

			

 

3.0 Appendix

 

In the event of any incomplete part of the cooperative business and related commercial terms under this agreement, the two parties will negotiate a separate written statement and attach

 

 

 

 

it as an Appendix, which is an integral part of this agreement. Unless otherwise stated, the terms of this agreement also apply to the Appendix. If the terms of the Appendix conflict with this agreement, the instructions of the Appendix shall prevail. The specific issues of specific cooperation content, including the work process, cooperation time, settlement mode and other issues that need to be discussed jointly, shall be agreed upon through friendly negotiation and signed in the Appendix by the two parties.

 

4.0 Force Majeure

 

In the event of a force majeure event that severely obstructs either party from fulfilling its obligations under the agreement, or such force majeure events causing the goals of the contract unattainable, the party shall notify the other party without delay of the extent to which it has performed its contractual obligations or performed part of its contractual obligations. And the certificate of the relevant authority shall be issued.

 

5.0 Statement and Guarantee

 

5.1 Party B's statement and guarantee to Party A

 

Party B is legally established and validly existing under the relevant laws.

 

Business scope of Party B is in accordance with the relevant laws and regulations, and has the business qualifications prescribed by the state.

 

5.2 Party A's statement and guarantee to Party B

 

Party A is legally established and validly existing under the relevant laws.

 

Business scope of Party A is in accordance with the relevant laws and regulations, and has the business qualifications prescribed by the state.

 

6.0 Others

 

This agreement shall take effect on the date of sealing of both parties. This agreement is in duplicate and each party shall hold one which has the same legal effect.

 

7.0 Settlement of Disputes

 

The parties shall settle all disputes arising out of or in connection with this agreement through friendly negotiation. If the two parties cannot reach an agreement through negotiation, they shall file a lawsuit to the local court of Party A and settle down through litigation procedures.

 

Party A: Qinghai Zhongtian Boron and Lithium Science & Technology Co., Ltd.

 

Signing Date: January 1, 2019

 

Party B: Qinghai Zhongtian Boron and Lithium Mining Co., Ltd.

 

Signing Date: January 1, 2019ex_149458.htm

 

Exhibit 10.26

 

 

Of

 

Mining Right Assignment Contract in Qinghai Province

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract No.: 2005-1

 

Assignor: Department of Land Resources of Qinghai Province

 

Assignee: Qinghai Zhongtian Boron Lithium Mining Co. Ltd.

 

Signing Place: Department of Land Resources of Qinghai Province

 

Signing Date: January 5, 2005

 

 

 

 

 

Mining Right Assignment Contract

 

Assignor: Department of Land Resources of Qinghai Province

 

Address: No. 24, Shengli Road, Xining City

 

Assignee: Qinghai Zhongtian Boron Lithium Mining Co. Ltd.

 

Address: No. 3, Renmin West Road, Dachaidan, Haixi Prefecture

 

According to Law of the People's Republic of China on Mineral Resources, Contract Law of the People's Republic of China, Regulations on Mineral Resources Management in Qinghai Province and relevant laws and regulations, both parties sign the contract for the principles of equality, voluntariness, honesty and trustworthiness.

 

Article I The assignee obtains the mining right of Dachaidan Lake Boron Mine (part of ore section) through the method of transfer.

 

Article II The mining right is in Dachaidan Lake, Haixi Prefecture, Qinghai Province, the mining area is 35.6972 square kilometers, the mining depth is from 3147.37 m to 3134.37 m and the mining area where the mining right is transferred is delineated by 4 inflection points (see the copy of mining license).

 

Article III The term of assignment of mining right is 33 years (from August 2004) and the mining right will be reclaimed by the state upon the expiration.

 

Article IV The mining right shall not be transferred without authorization. In case of transfer, it must be approved by registration authority and it can be transferred after handling the transfer procedures in accordance with the law.

 

Article V The assignee must pay the fee of mining right on time in accordance with the contract. If the consignee fails to pay the fee of mining right on time within the prescribed time limit, the assignor shall receive 2‰ fine for delaying payment of the deferred payment daily from the day of delay. If one of the payment is 3 months overdue, the assignor has the right to terminate the contract, take the mining right back and the assignee shall bear other losses caused by breach of contract.

 

Article VI After receiving the mining license, the assignee must mine it by self, shall not contract or transfer it to any other person for mining in any form without authorization and collect contracting fees and management fees. In case of contracting or transfer without authorization and the plot is serious, the assignor has the right to take the mining right back and investigate and punish the assignee in accordance with illegal transfer of mining right.

 

Article VII Mineral resources must be rationally mined in accordance with the development and utilization plan, the relevant provisions on environmental protection and safe production, which shall not exceed the depth and beyond the boundary, shall not damage and destroy the surrounding natural ecological environment or facilities. In the event that the consignee does not mine in accordance with the development and utilization plan, the relevant provisions on environmental protection and safe production, or mines in excess of depth and beyond the boundary, or causes waste of resources or the damage and pollution to the environment, or major accidents in production safety or fails to meet the safety standard and the plot are serious, the assignor has the right to take the mining right back.

 

Article VIII According to the regulations of Article VII in Measures for the Registration Administration of Mineral Resources Exploitation, if the mining shall be continued upon expiration of mining license, the mining right owner shall handle the renewal of registration at registration authority 30 days before the expiration of the mining license. If the mining right owner does not handle the renewal of registration within the time limit, the mining license shall be annulled.

 

Article IX According to the regulations of Article XXXVII in Regulations on Mineral Resources Management in Qinghai Province, if the mining right owner alters the mining area, main mining minerals, mining method, name of mining enterprise or transfers the mining right in accordance with the law within the validity term of mining license,

 

 

 

 

the mining right owner shall apply to handle change of registration procedures at the original examination and approval and issuing authority.

 

Article X According to the regulations of Article XXXVIII in Regulations on Mineral Resources Management in Qinghai Province, if the mining right owner needs to stop or close the mine within the validity term or upon the expiration of mining license, the mining right owner shall apply to handle the procedures for deregistration of mining licenses at the original examination and approval and issuing authority within 30 days of the decision to stop or close the mine.

 

The assignee must restore and control the ecological environment of the mine when closing the mine.

 

Article XI The disputes arising from the performance of the contract shall be solved by both parties through negotiation in accordance with national laws or relevant policies. If negotiation fails, it shall be solved by    of this article:

 

(I) Submit it to        arbitration committee for arbitration.

 

(II) File a lawsuit to the people’s court.

 

Article XII The contract will come into force from the date of signature and seal of both parties.

 

Article XIII The contract is in quadruplicate with the assignor and the assignee holding 2 copies respectively.

 

Article XIV The contract is 4 pages in total.

 

Article XV The unaccomplished matters of the contract shall be agreed after negotiation of both parties, which shall be the annex of the contract. The annex has the equal legal effect with the contract.

 

	
			Assignor: (Seal) Department of Land Resources of Qinghai Province

				
			Assignee: (Seal) Qinghai Zhongtian Boron Lithium Mining Co. Ltd.

			
	 	 
	
			Address: No. 24, Shengli Road, Xining City

				
			 Address: No. 3, Renmin West Road, Dachaidan, Haixi Prefecture

			
	
			Legal Representative: Qingma Yinshun

				
			Legal Representative: Zhang Mao

			
	
			Authorized Representative:

				
			Authorized Representative:

			
	
			Tel.: 6136448

				
			 Tel.:(0977)8282529

			
	
			Fax: 6136448

				
			Fax: 8281228

			
	
			Postcode: 810001

				
			Postcode::816200

			

 

Signing date: January 5, 2005

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