First Concept Logistics Serves Notice of Arbitration on SouthGobi Sands

SouthGobi Resources Ltd. (TSX:SGQ) announced that First Concept Logistics Limited had served a notice of arbitration on SouthGobi Sands LLC with respect to the alleged breach of a coal supply agreement.

As quoted in the press release,

According to the Notice, First Concept alleges that SGS has breached the Coal Supply Agreement and seeks, among other items, the repayment of US$11.5 million, representing the prepayment amount advanced by First Concept under such agreement.

Click here for the full SouthGobi Resources Ltd. (TSX:SGQ) press release