Hong Kong-listed Mongolian Mining Corp, which operates two coal mines in Ukhaa Khudag and Baruun Naran, both located in the Southern Gobi province of Mongolia, is faced with a looming debt challenge amid a slump in coking coal prices.
Coking coal prices in its main market China have fallen about 25% in the last two years, increasing MMC's net loss to $58.1 million in 2013 from $2.5 million in the previous year and drawing...