SouthGobi Sands licenses are suspended

Apr 17 • Finance, Mining, News • 1205 Views • 1 Comment on SouthGobi Sands licenses are suspended

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

SouthGobi Signs Cooperation Agreement With Aluminum Corporation of China Limited (CHALCO) and Receives Notification of CHALCO’s Intention to Make a Proportional Take-Over Bid.

SouthGobi has been informed that CHALCO intends to make a take-over bid for up to 60% of the issued and outstanding common shares of SouthGobi at C$8.48 per share (“Proportional Offer”). SouthGobi has also been informed by its 57.6% major shareholder, Ivanhoe Mines Ltd. (“Ivanhoe”), that Ivanhoe has signed a lock-up agreement with CHALCO, committing to tender all of its shares held or thereafter acquired by it during the Offer Period of CHALCO into the Proportional Offer.

M.Ariunbat is working as the temporary head of the Mineral Resources Authority of Mongolia and was interviewed regarding the SouthGobi Sands licenses issue.


Q: The Southgobi’s deposit has become a popular subject recently. Are large Mongolian deposits becoming more dependant on international companies? What does it say on the Mongolian law?

M.Ariunbat: We have to understand that we cannot manage this takeover by the Minerals law of Mongolia. Law on limiting strategic investment is initiated and the takeover can be managed by this law. We also made amendment to the Minerals law to include this issue. It means mining license holders needs to get permission from the government to sell or trade the mining deposit.

Q: Does the current law include this?

M.Ariunbat: It does not. To add to this, we have suspended all the special mining and exploration licenses of SouthGobi Sands.

Q: What is the reason for this suspension? How long will it last? How will it effect Mongolia?

M.Ariunbat: It is related to the parent company SouthGobi Energy and its change in the main shareholder. All the licenses are suspended. The suspension will last until the Government of Mongolia and the State Great Khural makes any assessment on the issue. The suspension will not effect the Mongolian economy as a whole because licenses of only one company is suspended.

Related Posts

One Response to SouthGobi Sands licenses are suspended

  1. TO
    ALL MONGOLIAN MINE RESEARCH COMPANY AND GOVERNMENT
    Sir
    I am man of Bangladesh. My name is Md Abbas uddin , House No -60/4, village –Dasani, Post office– Bagerhat, Police Station– Bagerhat Sadar, District – Bagerhat. Contract Mobile No +8801675-222841 (Bangladesh). About 18 years ago, one day I read in Bengali newspaper that some Japanies Archologist and rich people of America was trying to discover Mongol leader Chengiskhan tomb. They used very sophisticated equipments but faild. From that days I was researching, I thinking deeply over it about eighten years. I discover an exceptional system and knowledge. I understood the tomb of Chenggis khan was kept north side of Mosco in Russia. I am 100 % confirmed that the dead body of Chengis khaan’s was finally buried in Russia, I think, first time Chenggis Khaans dead body was burried in his motherland Mongolia but next times, Russia find out his tomb and transferred his deadbody to near the Mosco. Most probably Russia realize that one day Chengis khans tomb will be the prayer place of all Mongol nation. By any cost, Chengis khaan’s dead body was transferred by Russia for the safety and security of tomb property or any other motto. At present there is no doubt, Chenggis Khaans tomb is waiting near the Mosco. I can prove it by the grace of God. I can challenge with any researcher about my information. If any one search his tomb in present Mongol area, I can surely say he never got it. By the grace of God, I have marked the Tomb place in World Map. According my map any organisation search there, they can easily discover it. If any country or any organisation help me and give me sufficient honour, I determindly speaking I could discover the Chenggiskhan tomb place. If you faith on me and follow my advice, within 3/6 month, you will be able to discover great national leader Chengis khaan’s tomb. So please don’t spent your valuable time. Through my new personnal discovering system I could help any Diamon/gold mine research company for selection real Diamond/gold mine places. You may examine me, You may taste me, which I am talking? It is right or wrong.? No doubt It is very hard work but not very defficult for me. You may think where expert scientist or archeologist in the world failed how will be discover by a simple man? Did you not found? sometimes, some famous doctor can not cure a hard dieses of patient but some saint who has spritural power he can easily cure it. Please do not mistake me. I want to took part in this great discovery in the world if you like. You may just one time examine me, come to my country with two full map of Russia and Mongolia where all place name, hill is available. This tomb was kept in a underground building beside a hill, deep between 5-8 meter. Many kinds of precious metal sparking beside the tomb. My knowledge says, most of the place are full of by various kinds of items. It is a vast property. No doubt it will be great historical discover in the world. So as soon as possible please contact with me and informed me your opinion. I am waiting for your reply. Thanks.

    Md. Abbasuddin
    Bangladesh

Leave a Reply

Your email address will not be published. Required fields are marked *

« »