Monday, July 26, 2010

[cpsnewswire] [BREAKING NEWS] 0065.HK to Spend US$10M on Mongolian Coal Company

DeTeam to acquire 2.14 bln tons of coal in Mongolia


Jul. 26, 2010 (China Knowledge) - DeTeam Co Ltd<0065> recently announced plans to spend US$10 million to acquire entire equities of Shine Shivee LLC, which owns exploration rights on seven collieries with coal reserves totaling 2.14 billion tons in Mongolia. 

The Hong Kong-listed firm inked a letter of intent on Jul. 20 and intends to sign a formal contract before Dec. 1. 

The target coal assets, which are along Sino-Russia railway line, are expected to generate electricity to China. 

Mak Shiu Tong, co-chairman of the purchaser, said that the company will simultaneously develop its projects in Mongolia and Inner Mongolia Autonomous Region to expand its market, sources reported. 


Link to article



"Mogi" Munkhdul Badral

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CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based ASX Licensed Financial Services Company. To trade ASX stocks, feel free to contact me at or +976-9999-6779.


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