Noble stokes coal rush to Mongolia
Noble Group’s accumulation of 4.1 per cent of Mongolian coking coal group Aspire Mining not only underscores the mining sector’s growing interest in one of the world’s most sparsely populated countries, it serves as another reminder that there is plenty more corporate activity to come in the coal space.
Noble Group’s accumulation of 4.1 per cent of Mongolian coking coal group Aspire Mining not only underscores the mining sector’s growing interest in one of the world’s most sparsely populated countries, but also serves as another reminder that there is plenty more corporate activity to come in the coal space.
Hong Kong-based Noble – which has a strategy of buying up stakes in early-stage projects and is said to hold shares in other Mongolian coal hopefuls of less than 5 per cent – has been accumulating its Aspire stake since last year with the help of Investec (which also helped Noble dump its Aston Resources stake last year).
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