Mongolian coal mine SouthGobi to halt production despite China effort

SouthGobi Resources Ltd. said Tuesday that output at its main Ovoot Tolgoi mine will be curtailed by the end of this quarter. It cited a weak market and regulatory issues.

SouthGobi said previously that Mongolian authorities asked for production to be suspended while they reviewed a plan by a Chinese government-owned company to acquire a majority stake in SouthGobi.

Mongolia has profited from selling coal, copper and other minerals to China but Mongolians are uneasy about being dominated economically by their giant neighbor.

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