SouthGobi Buys Time From CIC
Posted on 07/30/2015
SouthGobi Resources Ltd., a Mongolian coal mining company, won a deferral on a major interest payment owed to a giant Asian sovereign wealth fund. Falling coal prices and a challenging economic climate in Mongolia has hampered SouthGobi’s profitability. The company owed US$ 7.9 million to the China Investment Corporation (CIC) via interest payment. The due […]
