Member access

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 


08/19/2013 | 04:12pm US/Eastern

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.


(Incorporated in the Cayman Islands with Limited Liability)


This announcement is made by Mongolian Mining Corporation (the "Company" together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules") and the disclosure obligation under the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap.571, Laws of Hong Kong).
Reference is made to the announcements dated 6 October 2011 (the "Road Announcement") and 16 January 2012 (the "Border Expansion Announcement" together with the "Road Announcement", the "Announcements") both issued by the Company in relation to the completion of the Ukhaa Khudag - Gashuun Sukhait paved road ("UHG-GS road") built under the BOT Agreement with the Government of Mongolia ("Government") and the completion of an expansion project of border crossing capacity at Gashuun Sukhait border checkpoint ("GS") of Mongolia, for coal export transportation, respectively. Capitalized terms used in this announcement shall have the same meanings as those defined in the Announcements unless the context herein requires otherwise.
The board of directors (the "Board") of the Company wishes to inform shareholders of the Company (the "Shareholders") and potential investors that according to the news published on the official website of the Government, the Government discussed at its cabinet meeting held on 16
August 2013 the measures to support coal exports from Mongolia. Among other matters discussed, the Government, recognizing the importance of the UHG-GS road to coal exports, has resolved to purchase (i) the UHG-GS road from Gobi Road LLC, an indirect wholly-owned subsidiary of the Company, and (ii) the infrastructure built under the Border Crossing Expansion project by Energy Resources LLC, an indirect wholly-owned subsidiary of the Company, with an aim to decrease transportation costs, an important factor for coal export support.
As at the date of this announcement, the purchase amount payable to the Group by the Government in respect of the above resolutions has not yet been discussed. The Board believes that the cash received by the Group in relation to the above mentioned assets will allow the Group to maintain strong cash position until end of 2013. The Group will continue to have unrestricted access to this transportation infrastructure.
Also, in order to lower coal transportation costs, the Government resolved to initiate process to allow Chinese railway network cross-border access to Gashuun Sukhait and Shivee Khuren border crossing points.
As at the date of this announcement, the Company has not yet received any notification letter from the Government in relation to the aforesaid resolutions. The Company will issue a further announcement to inform the public and its shareholders as and when the Company receives any official letter or notification in respect of such resolutions from the Government.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

For and on behalf of the Board Mongolian Mining Corporation Odjargal Jambaljamts


Hong Kong, 19 August 2013

As at the date of this announcement, the board of directors of the Company consists of Mr. Odjargal Jambaljamts and Dr. Battsengel Gotov, being the executive directors of the Company, Mr. Batsaikhan Purev, Dr. Oyungerel Janchiv, Mr. Od Jambaljamts and Ms. Enkhtuvshin Gombo, being the non-executive directors of the Company, and Mr. Ochirbat Punsalmaa, Mr. Unenbat Jigjid and Mr. Chan Tze Ching, Ignatius, being the independent non-executive directors of the Company.


distributed by
React to this article
Latest news
Date Title
04:11a NCR : UAE bank partner to introduce customer-centric ATM solutions
04:11a MASTERCARD : FIME aligns terminal integration services, tools to new MasterCard M-TIP 2.0 spec
04:11a CARDTRONICS : Is your bank missing the payoffs of surcharge-free ATMs?
04:11a THESTREET : Study: improved security is key to success for mobile banking
04:11a EURONET WORLDWIDE : Finabank signs with Euronet Software for integrated transaction management
04:11a CARDTRONICS : UK lands major retail partner in Northern Ireland
04:11a TARGET : 'A minimal portion of the actual damages incurred'
04:11a INFOSYS : launches teenage-friendly mobile banking product
04:11a ID TECHNOLOGIES : TNS, ID Tech partnership aims to ease EMV upgrade path
04:11a WINCOR NIXDORF : Vendors' Q1 numbers signal an ATM industry in flux
Latest news
Hot News 
RAMBLER METALS & MINING : Ships More High Grade Copper Concentrate
REVOLYMER : Awards under Long Term Incentive Plan and other share awards... read more
HOEFT & WESSEL : DGAP-News: Höft & Wessel AG: Höft & Wessel AG lived up to expectations in Q1 2015 - Droege Group acquires entire bank loans
AVACTA : Issue of Equity
TORNOS : 05/05/2015 - Tornos increases order intake once again; exchange rate depresses quarterly figures
Most Read News
05/04 WASION : Announcements and Notices - Placing of Existing Shares and Subscription for New Shares
02:41a UBS says DoJ forex talks advanced after earnings beat
05/04DJAsia Shares Mixed as Australia Awaits Rate Decision
05/04 CANFOR PULP PRODUCTS : Announces Voting Results for the Election of Directors
03:34a Lufthansa narrows operating loss helped by cheaper fuel
Most recommended articles
04:09aDJIndonesia First-Quarter Growth Slows to More Than Five-Year Low
04:08a EU energy boss seeks a deal on new Ukraine gas supply package before summer
04:06a French growth too weak despite favourable conditions - central bank chief
04:05aDJSpanish Jobless Numbers Fall
Dynamic quotes