Mongolian Mining to Get $59 Million Compensation for Rail Pact
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Mongolian Mining Corp., the nation’s biggest coking-coal exporter, will receive 84.3 billion tugriks ($59 million) in compensation as part of a pact with the government to terminate a rail-concession agreement.
The company and its units will enter talks with the government and may convert some of the payment into equity in a venture that will build a railway line to the Chinese border, according to a filing by Mongolian Mining to the Hong Kong stock exchange yesterday.