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Friday, June 10, 2011

[cpsinewswire] [CPSI NewsAlert: MMC Commissions Coal Washing Plant]

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COMMISSIONING OF COAL HANDLING AND PREPARATION PLANT

June 10, Mongolian Mining Corporation (HK:975) --

The board of directors (the “Board”) of Mongolian Mining Corporation (the “Company”) is pleased to announce that the first module of the Coal Handling and Preparation Plant (the “CHPP”) at its Ukhaa Khudag coking coal mine has been successfully commissioned by the State Professional Inspection Authority of Mongolia on 10 June 2011 as scheduled. With the formal approval issued by the regulatory authorities, the CHPP is now ready to commence its commercial operations. Comprised of three processing modules and a single product handling system, the Company’s CHPP is the first of its kind in Mongolia.

The first module of the CHPP has the capacity to process around 5 million tonnes of run-of-mine (“ROM”) coal per annum based on the design of minimum 6,000 operating hours per year. By processing raw coking coal, it will produce washed hard coking coal for export with 8-10% ash content as well as thermal coal for the on-site power plant’s use. Trial run of the CHPP has started on 12 May 2011 and the Company anticipates that full production capacity of approximately 900 tons as received coal per hour is planned to be reached in June 2011.

The design, procurement and construction management of the CHPP was undertaken by Sedgman Limited, Australia, one of world leading engineering companies in coal processing and material handling technology. The physical construction process took approximately 11-12 months and comprehensive, effective and fast-paced progress was achieved by adopting international best practices in contracting and construction management. All inclusive capital expenditure for the first module of CHPP totaled to approximately USD111.6 million in line with the Company’s original estimations.

The CHPP was designed as a customized solution to UHG coal to maximize the coking coal product yield and utilizes modern equipment of well-known brands from Australia, USA, Europe, South Africa and China. The project has involved a total of approximately 600 workers from over 20 different contractors and the CHPP will work on a 2 by 12-hours shifts employing in total around 96 staff.

The new CHPP will enable the Company to produce and sell washed hard coking coal products under the Company’s UHG brand name, reduce logistics costs, expand its end-user customer base, and boost its competitiveness in the international market.

The Company has already commenced construction of the second module of the CHPP which will double its processing capacity. The second module is planned to be completed and commissioned by the 4th quarter of 2011.

Link to release

 

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"Mogi" Munkhdul Badral

Executive Director

CPS International LLC

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CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

 

Disclosure/Disclaimer

CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.

CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.

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