SouthGobi Energy Resources Begins Deliveries of Coal From Its Ovoot Tolgoi Mine in Mongolia to Customers in China
23 Setembro 2008 - 9:30AM
Marketwired
Peter Meredith, Chief Executive Officer of SouthGobi Energy
Resources Ltd. (TSX VENTURE: SGQ), and Gene Wusaty, Chief Operating
Officer, Coal Division, announced today that the company has
commenced deliveries of thermal coal from the Ovoot Tolgoi mine, in
southern Mongolia, to customers in China.
"This is a major milestone in the evolution of SouthGobi Energy
Resources as a competitive Mongolian coal producer," Mr. Wusaty
said. "With the initial market-link in China now established, we
can concentrate on increasing our coal production and diversifying
our product and customer base."
Three coal products have been established for export from the
Ovoot Tolgoi mine - thermal coal, premium thermal coal and
metallurgical coal. Coal trucks were loaded at the Ovoot Tolgoi
mine site and crossed the border into China on Monday, September
22, 2008. This initial coal shipment is part of a one-year
contract, with 2008 tonnage set at 300,000 tonnes loaded at the
Ovoot Tolgoi mine gate. A second sales contract also is in place,
for an additional 2008 tonnage set at 400,000 tonnes (See website
for delivery photos).
Southgobi sands LLC (SGS), a wholly-owned Mongolian subsidiary
of SouthGobi Energy Resources, has opened two offices in China -
one in Beijing and the other in Ceke, at the China-Mongolia border
- to help facilitate the coal exports to China.
The Ovoot Tolgoi coal mine is approximately 45 kilometres north
of the Mongolia-China border. The mine is operating 24 hours a day,
with four production crews. The workforce has increased to 206
employees, including 198 Mongolian nationals. Production at Ovoot
Tolgoi to September 17th, 2008, was 471,215 tonnes of coal.
About SouthGobi Energy Resources
SouthGobi Energy Resources is focused on exploration and
development of its Permian-age metallurgical and thermal coal
deposits in Mongolia's South Gobi Region and East Kalimantan,
Indonesia. The company's flag-ship coal mine, Ovoot Tolgoi, is in
production and operating on a 24-hour basis. The company plans to
supply a wide range of coal products and electricity to markets in
Asia. The company also is investigating the implementation of
clean-coal technologies in the development of coal power-generating
capacity to benefit all of its stakeholders.
The company's metals division is focused on the exploration and
development of its copper and gold projects in Mongolia and
Indonesia.
Forward-Looking Statements: This document includes
forward-looking statements. Forward-looking statements include, but
are not limited to, the company's future ability to increase its
coal production, diversify its client base, supply coal products
and electricity to markets in Asia, implement clean-coal
technologies, and other statements that are not historical facts.
When used in this document, the words such as "could", "plan",
"estimate", "expect", "intend", "may", "potential", "should", and
similar expressions are forward-looking statements. Although
SouthGobi Energy Resources believe that the expectations reflected
in these forward-looking statements are reasonable, such statements
involve risks and uncertainties and no assurance can be given that
actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to
differ from these forward-looking statements are disclosed under
the heading "Risk Factors" in SouthGobi Energy's Management's
Discussion and Analysis of Financial Condition and Results of
Operations for the three months ended June 30, 2008, and its Annual
Information Form dated March 28, 2008 which is available at
www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: SouthGobi Energy Resources Ltd. Steven Feldman
Investors (604) 681-6799 SouthGobi Energy Resources Ltd. Bob
Williamson Media (604) 681-6799 Website: www.southgobi.com
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