Bloomberg News

SouthGobi Resources Sees Higher Coal Exports on New China Gates

May 29, 2012

The opening of eight new border gates between Mongolia and China yesterday will “significantly increase” coal export capacity between the two nations, miner SouthGobi Resources Ltd. (SGQ) said in a statement today.

Coal was previously transported out of Mongolia through a single gate, which would allow empty trucks into Mongolia in the mornings, and loaded trucks into China in the afternoons, the company said in a Hong Kong stock exchange filing.

Alexander Molyneux, SouthGobi’s president and chief executive officer, said the new gates at the Shivee Khuren-Ceke border crossing eliminate a bottleneck, reducing costs for transport companies by allowing more-efficient use of trucks.

To contact Bloomberg News staff for this story: Liza Lin in Shanghai at llin15@bloomberg.net

To contact the editor responsible for this story: Joshua Fellman at jfellman@bloomberg.net


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