China-focused investment company Origo Partners has
agreed to buy stakes in two Mongolia-based exploration companies, continuing
its efforts to focus on the Chinese natural resources sector. The company has
said it would invest up to USD5 million for a 23 percent interest in Bumbat
Consolidated Ltd, an exploration company focused on coal, iron-ore, copper and
gold. Origo will also acquire a 10 percent stake in copper and gold explorer
Huremtiin Hyar LLC for USD300,000, with an option to invest USD3.5 million more
to raise its stake to 70 percent. Both Mongolian companies have exploration
licenses in areas where significant mineral deposits have been found, Origo
said in a statement.