[ET Net News Agency, 25 June 2013] Mongolian Mining Corporation (00975) said the
Mineral Resource Authority of Mongolia has granted and issued a special permit for
minerals extraction for Tsaikhar Khudag area to its indirect wholly-owned subsidiary
Khangad Exploration LLC.
The new mining license covers a total area of around 8,340 hectares and contains around
73 million tonnes of coal resources according to the Mongolian geological and mining
reporting standards. In accordance with the Minerals Law of Mongolia, the mining license
was issued by the MRA for an initial term of 30 years (subject to two consecutive
extensions of 20 years each) and Mongolian Mining will pay an annual fee of about
US$41,700 for this license. (HL)
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00975 MONGOL MINING
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6.960 +0.010 (+0.144%) Others
25/06/2013 10:14
Mongol Mining (00975) granted new mining license in Mongolia
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