Bayi Steel is the Xinjiang division of Baosteel, the second-largest steel maker in China and fourth largest in the world.

China Minmetals is a key state-owned enterprise, the largest iron and steel trader in China.

The goal of the MOU is to establish a working relationship between the companies to facilitate trial shipments of 5000 tonnes of coking coal for metallurgical testing, trials of transport methods, transport routes and cross-border transfer between Celsius’ Uzgen Basin Coking Coal Project and customer facilities in Xinjiang, China.

It also covers potential long-term supply agreements between Celsius and the two companies, in the event the trials have a positive outcome.

The start date for the delivery of trial shipments is not yet set, but is predicted to take place no earlier than the second quarter of 2014, and no later than December 2014.

Prices for deliveries beyond the trial stage will be subject to negotiation.