Capital Resource Funding Corp said it has signed a contract worth around 12.6 million US dollars to supply Japan's Honjo Chemical Co with cobaltosic oxide over the next 12 months.

Northeastern China-based Capital Resource, which plans to change its name soon to China Sun Group High-Tech Co, will provide Honjo with 20 tons of cobaltosic oxide every month, beginning in July.

The price of the shipments will be benchmarked each month against prices in the London Metal Bulletin.