https://www.miningweekly.com

Viking Mines signs 4th MoU at Auminco mine

15th August 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed Viking Mines, formerly Viking Ashanti, has inked a memorandum of understanding (MoU) with a Mongolian industrial company for the future potential supply of coal from Auminco Mines.

Unlisted Auminco Mines is currently the subject of a takeover offer by Viking, which to date, had secured a shareholding of some 97% in the takeover target.

Viking chairperson Jack Gardner said the MoU, the fourth for Auminco’s Berkh Uul bituminous coal project in Mongolia, was a significant event for the company, as Khutul Cement and Lime (KCLC) was Mongolia’s largest cement manufacturer.

“We understand KCLC has plans to substantially increase cement production to meet a growing domestic demand. This would result in its coal demand increasing from the current 250 000 t/y to around 400 000 t/y or 500 000 t/y,” Gardner said.

He noted that Viking Mines was optimistic about winning a "big slice” of KCLC’s demand, as low sulphur content was a feature of the Kerkh Uul coal.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Trotech
Trotech

Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
10th June 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.039 0.064s - 111pq - 2rq
Subscribe Now