Canadian SouthGobi Energy Resources would be soon listed at the Mongolian Stock Exchange. As per report Mr Alexander Molyneux president of SouthGobi Energy Resources met with Mr R Sodkhuu executive director general of the Mongolian Stock Exchange this week.

Mr Molyneux said that his company is interested in trading its shares at the Mongolian Stock Exchange. The company holds mining license of Ovoot Tolgoi coal deposit in Omnogobi aimag and it is listed at Toronto Stock Exchange.

Its market capitalization is estimated at USD 1.7 billion, 85% of its total operation and investment is spent in Mongolia.

The company’s Ovoot Tolgoi mine recently recorded high monthly sales of 231,566 tonnes of coal across the border to China. South Gobi expects to have its second mining fleet commissioned in October of this year. The company is targeting coal production of 1.1 million tonnes to 1.3 million tonnes in the second half of this year.

(Sourced from ubpost.mongolnews)