Karce International announces refusal to purchase Mongolian coal mines |
Karce International Holdings Co. Ltd announced on Monday that it has discontinued an agreement to purchase a number of Mongolian coal mines because their estimated reserves are less than expected. In a statement filed with the Hong Kong stock exchange, Karce International said its technical adviser estimated the coal resources in the mines would be less than the 140 million tons necessary for the purchase to proceed.
In October, Karce International had agreed to buy 100 percent of Silverway Pacific Ltd, which owns Khuldiin Nuurs LLC, a Mongolia-incorporated holder of mining licenses, for 1.4 bln HK dollars. www.mongolia-web.com |
Bayangol Domestic flight schedule Endangered snow leopards to be studied in Mongolia Fishing International flight schedules Joint Russian Mongolian School (School No 3) Khan Palace Mongolia Geography Mongolia, Total Solar Eclipse 2008 Mongolian Tourist Information Center Mongolian Train Schedule Restaurants & Night Clubs Restaurants and Cafes in Ulaanbaatar The Historical And Cultural Places of Khentii Aimag Traveling Itineraries Tsuya Japanese Restaurant Ulaanbaatar Ulaanbaatar Capital City Ulaanbaatar-The Capital City Of Mongolia Visa Requirements
Experts say copper prices to remain high for next two years |
Market observers believe Mongolian copper prices will remain high for at least the next two years. One of the main reasons given for the continuing high prices are delays to planned mining projects caused by increasing percentages of revenues being funneled off by governments in Mongolia and Africa. |