Tempus Steel, a company in Ningxiang National Economic and Technological Development Zone (NETDZ), recently signed a centralized procurement services agreement with QS Group, Russia's largest mining service provider. Tempus Steel will gradually assume the management of QS Group's procurement operations in China, with an anticipated annual procurement value surpassing 100 million US dollars over the next five years.
QS Group's core business encompasses mining outsourcing projects, mining engineering design and technical services, as well as the sale of mining equipment and spare parts. With a robust technical service team, it has accumulated a decade-long procurement history in China. Its partnership with Tempus Steel commenced in early 2020, establishing a lasting trade alliance.

Recognizing the vigorous growth potential in the Russian mining service market, both sides have entered into an agreement for centralized procurement services, enabling Tempus Steel to progressively assume control of QS Group's procurement operations in China.

QS Group's procurement expenditure in China for 2022 amounted to approximately 40 million US dollars, and it is projected to exceed 100 million US dollars annually within the next five years.