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Article: Hong Kong : Mongolia Energy Signs Coal Mine Production Agreement.
- Article from:
- TendersInfo
- Article date:
- November 12, 2009
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Byline: shiv03
Mongolia Energy Corp., the Hong Kong-traded mineral and energy explorer, signed a $206 million agreement with a contract miner to extract coal from its pit in the west of the country.
The six-year agreement with a unit of Leighton Holdings Ltd., Australia s largest construction company, is initially to mine 3 million metric tons of coal a year from the Khushuut pit. Production will likely start in the second quarter next year, Mongolia Energy s Chief Executive Officer James Schaeffer said at a media briefing in Hong Kong today.
Mongolia Energy is developing the mine and owns 330,000 hectares of mineral and energy concessions in ...