Energy Resources LLC

From Global Energy Monitor

Energy Resources LLC is a coal mining company with interests in Mongolia. It owns and operates the Ukhaa Khudag mine and the Baruun Naran coal mine. It is an indirect wholly owned subsidiary of the Mongolia Mining Corporation.

Background

On its website the company states that the company "owns and operates Ukhaa Khudag coking coal deposit located in Tsogttsetsii soum of the Southern Gobi province of Mongolia. In August 2006, the Energy Resources LLC was granted with mining license MV-11952 for the Ukhaa Khudag coking coal deposit covering area of 2,960 hectares and mining at Ukhaa Khudag commenced in April, 2009."[1]

A 2009 World Bank report noted that in July 2008 Energy Resources was given a permit to develop a railway from Tavan Tolgoi to Gashuun Sukhait and a permit to MAK to develop a railway from Nariin Sukhait to Ceke. "MAK has not yet received a construction licence. Energy Resources has established a subsidiary company, Energy Resource Rail (ERR), to develop its railway, and received a construction licence in January 2009. ERR is in the process of organizing finance for its railway construction. ERR has signed a memorandum of understanding with China’s Shenhua Group, under which Shenhua will provide a rail connection from the Chinese border through to Huanghua port. In other countries where mining companies have controlled railways, they have used that control to impede the development of competing mines," the report stated.[2]

Mongolian Mining Corporation

The Mongolian Mining Corporation (MMC) was incorporated in the Cayman Islands as an exempted company with limited liability on May 18, 2010 in anticipation of the Global Offering in Hong Kong. After the incorporation, Energy Resources became an indirect wholly owned subsidiary of MMC.[3] MMC was listed in the Hong Kong Stock Exchange on October 13, 2010.[4]

Contact Details

Website: http://www.energyresources.mn/

Articles and resources

References

  1. "About Us", Energy Resources LLC website, accessed March 2011.
  2. World Bank, "Southern Mongolia Infrastructure Strategy", International Bank for Reconstruction and Development / The World Bank, August 2009, page 11. (Pdf)
  3. "Mongolian Mining Corporation (00975)". Hkexness.hk. Retrieved 2016-03-31.
  4. "Investment Service Centre : Mongol Mining (975)" (PDF). Hkex.com. Retrieved 2016-03-31.

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