Mongolian coal mine eyed by China closes

Mining
By The Associated Press on June 26, 2012

BEIJING (AP) — The operator of a Mongolian coal mine that is at the center of a controversy over a Chinese acquisition bid said Tuesday it will stop production this month.

Operations at the Ovoot Tolgoi Mine "will be entirely curtailed" as of the end of this quarter, SouthGobi Resources Ltd. said in a statement through the Hong Kong stock exchange. It cited weak market conditions and regulatory issues.

Tags: 
Mongolia
China
coal mine
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