Creamer Media’s Mining Weekly: Chalco, Ivanhoe say Mongolia plan new investment rules

The Aluminium Corporation of China (Chalco) has made known its intention to move ahead with the acquisition of a majority stake in Mongolian miner SouthGobi, but stressed it would not take up any shares in the coal company until it had all the regulatory approvals. This comes as Mongolia advised Chalco and SouthGobi’s largest shareholder, Ivanhoe Mines, that it would implement new foreign investment rules, which would allow the government access to investments. The Mongolian government recently requested Toronto- and Hong Kong-listed SouthGobi to stop exploration and mining activity on certain licences, including its Ovoot Tolgoi mine, in light of the proposed takeover by the Chinese firm. To read the full article, click hereChalco, Ivanhoe say Mongolia plan new investment rules

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