CNGG SEEKS MINING PROJECTS IN MONGOLIA

Ulaanbaatar, /MONTSAME/ Song Xin, vice-president of the China National Gold Group Corp (CNGG), the country's second largest gold producer, announced that "Our target investment destinations include neighbors such as Russia and Mongolia".
"CNGG will transfer several gold mines as assets to its Canadian subsidiary Jinshan Gold Mines this year and acquire more mining assets abroad through Jinshan. Jinshan will serve as an overseas investment platform, because, as a company listed on the Toronto stock exchange, it has easier access to foreign investors and mining assets," Song said.
In a statement released last December, Jinshan said it was actively discussing gold and other precious metals projects in Russia and Mongolia with partners.
S.Batbayar
18.22