DGAP-News: United Mining Plc announce first acquisition of iron ore producing mine in Mongolia
(firmenpresse) - DGAP-News: United Mining Plc / Key word(s): Acquisition
United Mining Plc announce first acquisition of iron ore producing
mine in Mongolia
14.12.2011 / 16:50
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United Mining announce first acquisition of iron ore producing mine in
Mongolia
Today the board of United Mining plc approved the acquisition of 25 per
cent of the capital stock of each of KazmonKontakt LLC (Kazmon) and MGMK
LLC (MGMK) from DirektFinanz AG, in consideration of the issue by the
Company of new shares.
In addition to the acquisition of stock, under the agreements, United
Mining plc has the management control and the board control of the
operating company Kazmon and the mining license holding company MGMK.
United Mining plc issued 62,000,000 new ordinary shares in the capital of
the Company to DirektFinanz AG as consideration for the transfer of shares
in Kazmon and MGMK.
United Mining plc plans to invest in the operating company to increase both
the quantity and quality of the production and to reduce operating costs.
Kazmon already has a non-exclusive contract with one of the largest
commodities trading firms worldwide,. United Mining plc will ensure the
maximum capacity of the mine is sold to China or other major trading
companies. The big advantage of the Bor Tolgoi site is the infrastructures,
with the main railway to China just 43 kilometres away.
United Mining plc intends to continue to seek more high quality iron ore
and other commodities projects in Mongolia and worldwide. Acquisitions that
clearly upgrade and/or complement the Company's portfolio will be targeted.
In addition to strategically located iron ore assets, the Company will also
pursue a number of p omising opportunities in Asia, Africa and South
America
Contact: Mr Gregory Samuel
United Mining plc
Telephone Number: +44 20 3326 5825
Email Address: gsamuel(at)unitedminingplc.com
End of Corporate News
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149789 14.12.2011
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Datum: 14.12.2011 - 16:50 Uhr
Sprache: Deutsch
News-ID 97079
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Kategorie:
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