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00975 MONGOL MINING
RTNominal down0.670 -0.010 (-1.471%)
Others

05/04/2012 10:17

Mongol Mining (975) inks power supply deal with major holder

Mongolian Mining Corporation (00975) said it entered
into several connected transactions with controlling shareholder MCS Mining Group Limited.
MCS Mining Group agreed to provide Mongolian Mining engineering, procurement and
construction management (EPCM) services for new school, kindergarten and dormitory complex
in Tsogttsetsii soum of Umnugobi province, Mongolia as well as EPCM services for
construction of mining equipment workshop II at the UHG mine. MCS Mining Group also agreed
to supply 4,500 tonnes of bitumen for construction of the paved road between UHG and BN
mines and power. In addition, MCS Mining Group agreed to provide Mongolian Mining with
services such as, high voltage 110/35/10kV main substation expansion.
The total consideration payable by Mongolian Mining will be about US$22 million. (HL)

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