SouthGobi Resources says Mongolia deal canned: "TORONTO (miningweekly.com) – Mongolia-focused miner SouthGobi Resources on Wednesday said the proposed sale of its noncore Tsagaan Tolgoi deposit had been cancelled.
The company said it was evaluating options for this noncore asset.
Toronto-listed SouthGobi, which holds substantial coal deposits in Mongolia, was in discussions with Sydney-listed Modun Resources to sell two licences, the Tsagaan Tolgoi mining licence and the Ajlyn Talbai exploration licence.
The intention was for the licences to augment Modun’s 489-million-ton Nuurst thermal coal project, in central Mongolia, and provide a significant platform to build and develop a portfolio of licences in the SouthGobi coking coal district."
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