15
Jun
07:17
TerraCom sells Mongolian coal assets to Bridge Resources
TerraCom Resources (TER), listed on the Australian Stock Exchange, has sold its Baruun Noyon Uul (BNU) and Enkhtunkh Orchon mines in Mongolia to Bridge Resources, according to reports. This also means that TER will completely exit the Mongolian market and shift its focus to Australia and Africa, Kallanish notes.
As part of the acquisition, Bridge Resources assumed $28 million in current assets and liabilities and paid TerraCom only $3 for the deal.
According…
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