Cold shower for Chalco's Mongolia mining plan - Report - 28414: "Caixin reported that a Chinese metals mining concern's plan to tap mineral rich Mongolia took a pause in early September 2012 as the Aluminum Corporation of China Limited withdrew its bid for coal supplier SouthGobi Resources Limited.
Chalco's buyout ambitions surfaced in April 2012 when it signed an agreement with SouthGobi's majority shareholder, Turquoise Hill Resources Limited, a Canadian company controlled by global mining giant Rio Tinto, for up to 60% but no less than 58% of SouthGobi shares at CAD 8.48 apiece.
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