APU, established 86 years ago, has declared a dividend for the sixth straight year. Its 3,500 shareholders were told at the recent annual general meeting that the company would distribute MNT1.4 billion as dividends.
The management also announced plans to spend USD35 million for further upgrading of equipment and technology. Last year its food and beverage products numbered 60 and it paid MNT44 billion in tax. Upgraded technology helped increase production, and also improved the product quality.
Source: http://www.mse.mn/index.php?module=news&cat=1&id=1846
China Shenhua Energy Co Ltd said it is still in the running for a stake in Mongolia's massive Tavan Tolgoi project, adding a new twist in the long-running tussle for what has been billed the world's largest untapped coking coal resource, according to the Reuters.
Shenhua's President Ling Wen's comments on Tuesday came after Mongolia said it had cancelled the sale of the estimated $2 billion stake in the Tavan Tolgoi project. "This year, the companies were asked by the government to submit their bids for a second time," Ling said, adding there are 10 companies in the race for the project. "I believe we have the greatest competitive advantage over the others," he said at the sidelines of a media briefing.
Mongolian Prime Minister Sukhbaatariin Batbold said in an interview with Reuters in early February that the government's decision not to auction a 49-percent stake in the Tavan Tolgoi project would allow the nation a greater return on the deposit, which holds estimated reserves of 6.5 billion tonnes of coking coal.
"I've never heard of it," Ling told Reuters at the sidelines of a media briefing, when told about the report, adding that he had just met Mongolia's prime minister.
Source: Reuters
Rio Tinto Group is in talks with Aluminum Corp. of China about potential joint ventures, the Australian Financial Review reported.
Rio Chief Executive Officer Tom Albanese will probably visit Chinalco, as Rio’s largest shareholder is known, in Beijing this month as his board seeks to pursue projects with the miner, the newspaper said, citing unidentified people familiar with the plans. Any agreement is likely to include overseas assets, possibly in Mongolia or West Africa, the Review reported.
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