Chalco drops $926 million bid for Mongolian coal miner | Reuters: "(Reuters) - Chalco (2600.HK) (601600.SS) has dropped its $926 million bid for a majority stake in Mongolia-focused coal miner SouthGobi Resources Ltd (SGQ.TO) (1878.HK) in the face of stiff political opposition.
Home to some of the world's biggest unexploited mineral deposits, Mongolia has become one of the hottest destinations for billions of dollars of mining investment, but the government is wary about the growing Chinese presence in the sector."
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