Southgobi Announces Restoration of Soumber Mining Licenses

VANCOUVER, British Columbia, March 03, 2021 (GLOBE NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) is pleased to announce that on March 2, 2021, the Company’s wholly-owned Mongolian operating subsidiary, SouthGobi Sands LLC, received a notice from the Mongolian governmental authority that the Company’s three mining licenses of the Soumber Deposit (the “Soumber Mining Licenses”) have been reinstated effective as of March 2, 2021.The Soumber Mining Licenses (MV-016869, MV-020436 and MV-020451) cover approximately 22,000 hectares of undeveloped coal deposit area and the Soumber Deposit is located approximately 20 kilometers east of the Company’s Ovoot Tolgoi coal mine in Mongolia.About SouthGobiSouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. SouthGobi produces and sells coal to customers in China.Contact:Investor RelationsWebsite: www.southgobi.com


Resource News, Oil and Gas News, Mining News, Renewable News

Resource News

Oil, Gas, Mining & Metals

Start typing and press Enter to search

shares