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.

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 attention to some of the debt repayments that the company has to make from next year.

In an interview with FinanceAsia in Hong Kong, Dr Battsengel Gotov, chief executive...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222