Mongolia Mining (earlier known as
Energy Resources), the first Mongolian firm to tap the Hong Kong IPO market,
has already secured several strategic investors as it seeks to raise USD1
billion. They include Kerry Group, which owns a 10 percent stake, US fund
Ancora Capital holds 7.6 percent, while two Mongolian oil miners, Petrovis and
Shunkhlai, own a combined 20.1 percent, sources said.

Also, the European Bank for
Reconstruction and Development bought a 5percent stake in the miner”s largest
shareholder, MCS Group, which owns 57 percent of the company.