ProactiveInvestors: Southgobi Resources says Mongolia suspends some coal licenses

SouthGobi Resources said Monday that the Mongolian government has suspended exploration and mining licenses for its Ovoot Tolgoi coal mine following a buyout bid by Chinese aluminum giant Chalco. The Canadian coal miner said it has not received any official notification. However, if it receives one, it may need to suspend operations until an injunction is granted, the company said. In early April, Aluminium Corp of China – known as Chalco – said it would buy Ivanhoe Mines’ SouthGobi stake in a deal worth as much as $925 million. To read the full article, click hereSouthgobi Resources says Mongolia suspends some coal licenses

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