SouthGobi Executes New Deferral Agreement with CIC
On December 20, 2016, SouthGobi Resources Ltd., which owns and operates its Ovoot Tolgoi coal mine in Mongolia, announced the execution of a new deferral agreement with Land Breeze II S.à r.l., a sovereign wealth enterprise of the China Investment Corporation (CIC). This modified a revised payment schedule of US$ 20.7 million of cash interest and other costs that were due on December 19, 2016. SouthGobi Resources produces and sells coal to customers in China.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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