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SouthGobi Resources

SouthGobi Resources narrows Q2 loss on higher sales despite low prices

Ovoot Tolgoi, Mongolia Toronto- and Hong Kong-listed SouthGobi Resources has narrowed its net loss for the second quarter, ended June 30, propped up by higher coal sales, which was offset by significantly lower coal prices. The Hong Kong-based miner reported a net loss...
11th August 2014

Turquoise Hill Resources to sell 29.95% of coal miner SouthGobi

A subsidiary of diversified miner Rio Tinto, Turquoise Hill Resources this week said it would sell 29.95% of Mongolia-focused coal miner SouthGobi Resources to Hong Kong-based National United Resources Holdings. National United will buy...
1st August 2014

SouthGobi Resources to ‘vigorously’ defend Ontario class action

Toronto- and Hong Kong-listed SouthGobi Resources late on Tuesday said it understood that it is the target of a proposed securities class action against the company, certain of its current and former senior officers and directors, and its former...
8th January 2014

Oyu Tolgoi financing pledges extended, Turquoise Hill reports US class action

Vancouver-based miner Turquoise Hill Resources on Monday said its owner Rio Tinto had secured extensions to the financing commitment letters from 15 commercial banks that would now expire on March 31, 2014. On April 17, Rio Tinto signed commitment...
16th December 2013

SouthGobi Resources to restate results for past 3 years

Mongolia-focused coal miner SouthGobi Resources on Friday said it would restate its financial results from 2011 to 2013, because of a change in the point of revenue recognition at its Ovoot Tolgoi mine. The company, which is owned by global...
8th November 2013

Turquoise Hill to ink $4bn financing for Mongolian flagship

Canadian miner Turquoise Hill and its majority owner Rio Tinto expect to sign a $4-billion project-financing plan and term sheet at the end of June, which will allow for the necessary future financial flexibility to develop the second phase of the...
14th May 2013

SouthGobi reports minimal Q1 revenue, production restarts

Mongolia-focused SouthGobi Resources on Monday reported minimal revenue of $3.3-million for the first quarter ended March 31, as most of its operations were shuttered during the period. Operations at its flagship Ovoot Tolgoi mine restarted in...
13th May 2013

SouthGobi Resources widens Q4 loss on back of closed mine

Mongolia-focused coal miner SouthGobi Resources on Monday said it had widened its quarter-on-quarter loss as operations at its flagship Ovoot Tolgoi mine during the fourth quarter remained suspended. The miner during the quarter ended December...
25th March 2013

SouthGobi Resources CFO quits

Mongolia-focused coal miner SouthGobi Resources on Monday said its CFO Matthew O'Kane had resigned, two months after it fired its CEO following Aluminium Corporation of China (Chalco) dropping a $926-million bid and the company’s stock taking a...
5th November 2012

Turquoise Hill rejects Mongolian review of mining contract

Oyu Tolgoy Canada’s Turquoise Hill Resources and controlling partner Rio Tinto on Monday rejected a request from the Mongolian government to renegotiate the investment agreement for Oyu Tolgoi mine, which had been billed as the world’s largest undeveloped...
15th October 2012

SouthGobi confirms president and CEO appointment

TSX-listed SouthGobi Resources on Monday said the board had confirmed its nomination to appoint Ross Tromans as the company’s new president and CEO with immediate effect. The company’s deputy chairperson Sean Hinton would manage the transition...
17th September 2012

SouthGobi Resources shuffles board, new chairperson

Mongolia-focused SouthGobi Resources on Tuesday said it had appointed Turquoise Hill Resources CEO Kay Priestly as its chairperson following the resignation of three existing directors effective September 3. The company appointed five new...
5th September 2012
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