London lags in mining listings as rivals surge
The market capitalization of LSE-listed mining stocks has shrunk to $272bn from $322bn in 2018.
Dumas Contracting Ltd. (“Dumas”) and Monnis International LLC of Mongolia (“Monnis”), a Mongolian company with leading positions in Mongolian construction, mining, geology, aviation and international freight forwarding, have entered into a strategic alliance to jointly undertake underground mining projects in Mongolia. The strategic alliance will provide Mongolian-based clients with unparalleled service in underground mining, combining Dumas’ technical expertise, world-class safety programme, and experienced team of underground mining specialists with Monnis’ local expertise, infrastructure, workforce and logistical support.
“Our alliance with Dumas enables Monnis to further expand its presence in the Mongolian mining industry,” said Mr. Chuluunbaatar Baz, Chairman and CEO of Monnis Group. “We are very excited at the prospect of being able to offer our existing valued clients access to industry leading technical capabilities and the very best expertise in underground mining contracting.”
“This partnership positions Dumas to enter one of the most exciting mining markets in the world with a highly respected and strong partner that shares Dumas’ commitment to safety, quality, service, and client satisfaction,” added Mr. Daniel Dumas, Chief Executive Officer of Dumas.
Dumas and Monnis look forward to a mutually beneficial working relationship and will continue to explore opportunities to work together in Mongolia to benefit clients.
