Mongolian Mining Acquire QGX Coal-Acquisition of Baruun Naran metallurgical coal mining lot

摘要

Mongolian Mining (MMC) of Mongolia released the news on 1st to acquire QGX Coal for 464.5 million US dollars from Kerry Holdings of Hong Kong out of which 379.5 million dollars will be paid by cash, and the remaining 85 million dollars by convertible bonds. QGX Coal owns interests in the Baruun Naran undeveloped metallurgical coal mining lot in South Gobi Province, Mongolia. Accordingly, MMC will take possession of that mining lot by acquisition of QGX Coal.