Mongolia Energy (00276.HK) -0.003 (1.829%) entered into a mining services (removal of overburden) agreement with Monnis for appointing it as mining contractor to provide topsoil and overburden removal services for the Khushuut Coal Mine. According to the agreement, the Contractor is principally required to provide blasting, removal of topsoil and overburden, haulage and loading services on the mine site, which are the essential works for the subsequent coal mining to take place. Apart from Monnis, MONGOLIA ENERGY may seek for another contractor to perform the coal extraction services.

The Company plans to resume commercial coal production for export by the fourth quarter this year.

Source : www.aastocks.com