Chinese aluminum giant Chalco delayed plans to acquire a controlling stake in Mongolia-focused coal miner SouthGobi Resources Ltd on Tuesday, as it continues to work on securing regulatory approvals in Mongolia and outside. In April the Aluminum Corporation of China Ltd, better known as Chalco, announced a $926 million bid for a controlling interest in SouthGobi, which owns large coal projects close to the Chinese border. The proposed deal has the backing of Ivanhoe Mines Ltd, which currently owns a controlling stake in SouthGobi. But it ran into obstacles immediately, after the Mongolian said it would enact new investment rules allowing it to review deals involving foreign companies that have assets in Mongolia. To read the full article, click here: Chalco announces delay in bid for SouthGobi stake
-
Mongolia in International Press & Media – Latest
- MongoliaConsults News: Neck & Neck enters Singapore & Thailand, & is preparing to enter Egypt, Kuwait & Saudi Arabia
- MongoliaConsults News: An Exhibition of Oil Paintings by Choindongiin Khurelbaatar
- MarketWatch / BusinessWire: NVMN – U.S. Government Recognizes Threat from Critical Lithium Supply Shortage
- TurkishPress: Turkish airlines launches flights to Ulan Bator
- East Asia Forum: Mongolia – electronic counting but no trust
- Reuters: SouthGobi jumps over 12% on Chalco interest
- 4-Traders: Resignation and Appointment of Non-Executive Director
- Reuters: Mongolia’s task – avoid Nigerian resource curse
- Mongolia Today: Steps toward New Government
- Scoop.co.nz: Media Personnel Attacked for Election Reporting in Mongolia
- Reuters: Chalco announces delay in bid for SouthGobi stake
- ProactiveInvestors: Chalco delays bid for SouthGobi stake
- Fox News / Dow Jones Newswires: Chalco Delays SouthGobi Bid by 30 Days
- Canadian Business / The Canadian Press: Ivanhoe Mines and Chalco agree to extend Chinese takeover bid of SouthGobi
- Bloomberg: Mongolia Energy Slumps to Lowest in Five Years
Mongolia in International Press & Media – Archives
- All news, articles and video materials uploaded hereto derive from Open Sources. If their titles are sometimes modified for better understanding and / or appearance, their contents remain as delivered on the actual websites or internet-based resource facilities of the respective institutions that published them, and, therefore, MongoliaConsults LLP is not responsible for their contents. Furthermore, the views and opinions expressed in the news, articles and video materials, thus shared herein, are the views and opinions of their respective authors and do not necessarily reflect those of MongoliaConsults LLP. Likewise, the news, articles and video materials shared herein do not constitute an endorsement from MongoliaConsults LLP, neither they shall be viewed as tax, legal, business and / or any other form of investment advice, recommendation or solicitation by MongoliaConsults LLP, nor as its directional outlook on the stock markets or stocks.