Thursday, 03 Mar 2011
Noble Group Ltd the Hong Kong based supplier of energy, food and mining commodities, sees Mongolia as its next opportunity to expand in coal and build on its record 2010 profits.
Mr Ricardo Leiman CEO of Noble Group said that “We have staff looking at several opportunities in Mongolia, especially in exploration companies. Mongolia will be an area specifically for quarter two. We look at developing a similar model there to what we have in Indonesia and Australia.”
Noble won exclusive overseas marketing rights for PT Berau Coal, Indonesia’s No 5 producer, in November, adding to its Australian assets which include Gloucester Coal Ltd. The Berau deal will contribute nicely to 2011 earnings, Mr Leiman said after his company posted record annual net income of USD 606 million from USD 57 billion in sales.
Aspire Mining Ltd which explores for coal in Mongolia said that Noble bought 4.1% of its shares and is in preliminary talks on how the two can cooperate. Xanadu Mines Ltd which plans to develop coal and iron ore fields in Mongolia.(sourced from bloomberg)
Mr Ricardo Leiman CEO of Noble Group said that “We have staff looking at several opportunities in Mongolia, especially in exploration companies. Mongolia will be an area specifically for quarter two. We look at developing a similar model there to what we have in Indonesia and Australia.”
Noble won exclusive overseas marketing rights for PT Berau Coal, Indonesia’s No 5 producer, in November, adding to its Australian assets which include Gloucester Coal Ltd. The Berau deal will contribute nicely to 2011 earnings, Mr Leiman said after his company posted record annual net income of USD 606 million from USD 57 billion in sales.
Aspire Mining Ltd which explores for coal in Mongolia said that Noble bought 4.1% of its shares and is in preliminary talks on how the two can cooperate. Xanadu Mines Ltd which plans to develop coal and iron ore fields in Mongolia.(sourced from bloomberg)
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