DeTeam Co Ltd.
recently announced plans to spend USD10 million to acquire entire equities of
Shine Shivee LLC, which owns exploration rights on seven collieries with coal
reserves totaling 2.14 billion tons in Mongolia. The Hong Kong-listed firm
inked a letter of intent on July 20 and intends to sign a formal contract
before December 1

The target coal
assets, which are along the China-Russia railway line, are expected to generate
electricity to China. Mr. Mak Shiu Tong, co-chairman of the purchaser, said
that the company will simultaneously develop its projects in Mongolia and Inner
Mongolia Autonomous Region to expand its market.