Mongolian Mining faces looming debt challenge

The company's CEO Dr Battsengel Gotov says he is counting on a modest rebound in coking coal prices to help assuage the situation.

Mongolian Mining faces looming debt challenge

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...

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