Reuters: Mongolian review plan disrupts SouthGobi deals

Mongolia’s plan to enact foreign investment rules that would allow it to review deals affecting companies with assets in the country could delay two separate agreements involving Ca n adian coal miner SouthGobi Resources Ltd. Chinese aluminum giant Chalco said on Wednesday it does not intend to move forward with a $926 million bid for a majority stake in SouthGobi until it has all the necessary regulatory approvals in place. Chalco’s announcement came a day after SouthGobi extended the closing date on plans to sell its Tsagaan Tolgoi thermal coal project in Mongolia to Australian-listed Modun Resources Ltd. To read the full article, click hereMongolian review plan disrupts SouthGobi deals

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