Fox News / Dow Jones Newswires: SouthGobi – Mining at Ovoot Tolgoi to be ‘Entirely Curtailed’ at End of 2Q

Work at SouthGobi Resources Ltd.’s flagship Ovoot Tolgoi Mine will be “entirely curtailed” at the end of the second quarter, the coal miner said Tuesday, raising uncertainty for Aluminium Corp. of China Ltd.’s bid to buy a controlling stake in the Mongolia-focused miner. State backed Aluminium Corp. of China, or Chalco, has said it will pay more than $920 million to buy up to 60% in SouthGobi Resources from Canada’s Ivanhoe Mines Ltd.. But the deal has been in stalemate following the Mongolian government’s suspension of SouthGobi Resources’s mining licenses because of national-security concerns. To read the full article, click hereSouthGobi – Mining at Ovoot Tolgoi to be ‘Entirely Curtailed’ at End of 2Q

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