HONG KONG - SouthGobi Resources Ltd. says it has received three pre-mining agreements in Mongolia that end an investment dispute the coal company has had with local mining authorities.
The Hong Kong-based company, which is listed on the Toronto Stock Exchange (TSX:SGQ), said Thursday the agreements will allow it to apply for a mining licence.
The three agreements and another one granted last January resolve key aspects of the dispute and signals improving relationships with key stakeholders, the company said.
SouthGobi was spun off as a coal-focused company operating in the same area a major copper mine developed by Vancouver-based Turquoise Hill, a publicly traded subsidiary of Rio Tinto PLC (NYSE:RIO).
Turquoise Hill Resources (TSX:TRQ), formerly called Ivanhoe Mines, remains SouthGobi's largest shareholder.
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