Mongolian Mining signs JV agreement with National Energy Group Coal Coking
2021-04-15 17:44:14 [Print]
On April 9, Energy Resources LLC, a wholly-owned subsidiary of Mongolian Mining Corporation, entered into an agreement with China's National Energy Group Coal Coking Co., Ltd. to set up a joint venture in Inner Mongolia for operating Chiheng closed coal storage yard at Ganqimaodu Port.
The construction of the coal storage yard was completed in July 2020. With a storage capacity of 15 million tons per annum, the coal storage facility has been put into use.
Mongolian Mining Corporation and National Energy Group Coal Coking will hold 10% and 90% share in the JV respectively. The registered capital for the JV is RMB500 million (USD76.55 million) which will be funded by the two companies at their respective shareholding ratio in one year after the JV is established.
The construction of the coal storage yard was completed in July 2020. With a storage capacity of 15 million tons per annum, the coal storage facility has been put into use.
Mongolian Mining Corporation and National Energy Group Coal Coking will hold 10% and 90% share in the JV respectively. The registered capital for the JV is RMB500 million (USD76.55 million) which will be funded by the two companies at their respective shareholding ratio in one year after the JV is established.
