The Conversation (0)
SouthGobi Resources Ltd.(TSE:SGQ) reports that it has signed two additional coal supply agreements.
The press release is quoted as saying:
NAEG is a venture between North Asia Resources Holdings Limited (HK: 0061) and China Railway Mongolia Investment LLC, which is a member of China Railway Group Limited (“CRG” HK: 0390, SHA: 601390), a significant Chinese state owned enterprise involved in railway construction and management. Importantly, CRG is a shareholder and involved in management of the new Chinese railway line from Linhe to Ceke. Ceke which is approximately 45 kilometres south of SouthGobi’s Ovoot Tolgoi coal mine in southern Mongolia, is a major Chinese coal distribution terminal with rail connections to key coal markets in China.
SouthGobi’s President and CEO, Alexander Molyneux says:
“We welcome NAEG and the large international company as new customers.” “These agreements are consistent with our plan to continue to increase the sales volume of SouthGobi’s coal and broaden our customer base.”
Click here to access the entire news release.