Mongolia Energy (HKG:0276) Khushuut coal mining suspended

Mongolia Energy Corporation Limited (HKG:0276) announced that MoEnCo LLC, an indirect wholly-owned operating subsidiary of the company in Mongolia, received a “first” notice yesterday from Leighton, the mining contractor responsible for coal extraction at the Khushuut Coal Mine, whereby Leighton is demanding payment of the outstanding contractor’s fees, together with a notice of suspension of […]

Mongolia can undercut Aussie coal export

Mongolia is emerging as a major competitor to Australian coal exports due to its vast untapped reserves, cost efficiency and close proximity to China. Mining giant Leighton Holdings Ltd says Mongolia has at least has 10 to 15 billion tonnes of recoverable coal that could be supplied to China for less than US$100 per tonne. […]