News Videos
World
International Edition

Sunday

June 25, 2017

Breaking News, World News and Taiwan News.
About Us
E-Newsletter
Advertise
Contact Us

Mongolian coal mine SouthGobi to halt production despite China effort

BEIJING -- The operator of a Mongolian coal mine says its production will stop, adding to uncertainty for a Chinese effort to acquire the company.

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.

MOST POPULAR OF THIS SECTION
Advertise  |   RSS Feed  |   About Us  |   Contact Us
Home  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |  
Arts & Leisure  |   Health  |   Editorial  |   Commentary Travel  |   Movies  |   Guide Post  |   Terms of Use  |  
  chinapost search