North Asia Resources Holdings, formerly known as Green
Global Resources, has announced plans to spend HKD195.5 million to acquire iron
ore assets in Mongolia from Inner Mongolia Taishen Mining Co. According to the
agreement signed by the two parties, the iron mine”s reserves exceed 79 million
tons, and the Hong Kong-listed firm hopes to expand its business in Mongolia.

Earlier last month, North Asia Resources Holdings kicked
off construction on a 20-hectare site in Mongolia to build a handling yard
where iron ore will be unloaded for transport to China. The mine has reserves
of 148.9 million tons of iron and 174,000 tons of pure copper.