MMC Set to Buy QGX Coal for $464 Million

- May 31st, 2011

Reuters reported that Mongolian Mining Corp. (HKG:0975) is expected to purchase QGX Coal.

Reuters reported that Mongolian Mining Corp. (HKG:0975) is expected to purchase QGX Coal.

The market news is quoted as saying:

The coking coal mine, which is located in Mongolia, is estimated to have 185 million tonnes of reserves and about 285 million tonnes of resource. Under the terms of the deal being discussed, Kerry Group will receive $380 million in cash and $85 million in convertible bonds initially.

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