Ridge Solutions to sell copper cathode to Xinjiang company

Ridge Solutions Group of Angola announced on Sunday it has agreed to supply Xinjiang Wal Optoelectronic Technology of China with 525,000 tonnes of copper cathode over five years, Refinitiv reports.

The compiler of financial data quotes a written announcement by Ridge Solutions as forecasting revenue of US$2 billion from the deal, basing the forecast on the price at the London Metal Exchange.

Ridge Solutions said it would obtain and refine the copper cathode in Zambia, and ship it to China through South African ports.

Chinese manufacturers and builders of infrastructure are making increasing use of copper cathode, Refinitiv quotes Ridge Solutions Executive Vice-president Ajaz Ahmed as saying.