Mongolian Mining to Get $59 Million Compensation for Rail Pact - Bloomberg: "Mongolian Mining Corp. (975), the nation’s biggest coking-coal exporter, will receive 84.3 billion tugriks ($59 million) in compensation as part of a pact with the government to terminate a rail-concession agreement.
The company and its units will enter talks with the government and may convert some of the payment into equity in a venture that will build a railway line to the Chinese border, according to a filing by Mongolian Mining to the Hong Kong stock exchange yesterday.
As part of the agreement, the company will be granted access to 50 percent of the railway’s capacity and state-owned Mongolian Railway will take over existing construction contracts and obligations, Mongolian Mining said."
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