CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
SouthGobi Resources Ltd. (TSX:SGQ)(SEHK:1878) announced today that it has been notified by the Mineral Resource Authority of Mongolia (MRAM) that the company’s Soumber coal deposit has been officially registered.
The registration process includes calculation of resources to Mongolian standards, review of the calculations by MRAM-appointed industry experts, and defense of the calculations before the Minerals Resource Committee. Mineral deposit registration is a prerequisite for applying for a Mining License. Under the Minerals Law of Mongolia, mining licenses are issued by MRAM. The initial term for a mining license is 30 years with an option for two 20-year extensions.
Having completed the resource registration step, SouthGobi intends to formally apply for the Soumber mining license in coming weeks.
The Soumber deposit is approximately 20 kilometres east of SouthGobi’s flagship Ovoot Tolgoi operation.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
Image from SouthGobi Reources.
