3,417.19
SouthGobi Resources has halted its plans to build a
rail link between its pit in southern Mongolia and the Chinese border because
of uncertainty over government policy. Instead, it will concentrate on
upgrading a road link in the deserts to the border.
CEO Alexander Molyneux said the Mongolian government is reviewing the nation’s
entire railways policy, and “given the question marks over the policy, we
decided to suspend work on the rail link”. SouthGobi had earmarked $150 million
to develop rail and road links near its Ovoot Tolgoi mine.
rail link between its pit in southern Mongolia and the Chinese border because
of uncertainty over government policy. Instead, it will concentrate on
upgrading a road link in the deserts to the border.
CEO Alexander Molyneux said the Mongolian government is reviewing the nation’s
entire railways policy, and “given the question marks over the policy, we
decided to suspend work on the rail link”. SouthGobi had earmarked $150 million
to develop rail and road links near its Ovoot Tolgoi mine.
