22
Feb
08:22
Jiayou to buy stake in Mongolian coal miner
Jiayou International Logistic, the first cross-border multinational logistics enterprise in China, plans to spend $88.81 million to acquire 20% equity of a Mongolia Mining Corporation (MMC) subsidiary. This will strengthen competition in the China-Mongolia cross-border logistics market. It has also signed a deal to purchase 17.5 million tonnes of coal from MMC over ten years, Kallanish notes.
After the acquisition, Jiayou will hold 20% of Khangad Exploration LLC (…
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