China's Chalco scraps bid for Mongolia coal miner
- Published: 4 Sep 2012 at 13.48
- Online news: World
China's biggest aluminium producer Chalco said it had scrapped a planned bid to take a majority stake in a Mongolian coal miner, after Mongolia's government opposed the deal.
Trucks ferry coal from a mine in the southern Gobi desert of Mongolia. China's biggest aluminium producer Chalco said it had scrapped a planned bid to take a majority stake in a Mongolian coal miner, after Mongolia's government opposed the deal.
Chalco had aimed to acquire up to 60 percent of miner SouthGobi's shares in a deal valued at HK$7.2 billion ($928 million).
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
