Xanadu Aims To Expand On Coking Coal In Mongolia

Law360, New York (February 3, 2012, 3:34 PM EST) -- Mongolian mining company Xanadu Mines Ltd. is seeking buyers for two Mongolian thermal coal assets in an effort to make room to increase its focus on coking coal and copper and gold opportunities in the country, it announced Friday.

The company said it is seeking offers of interest in the Galshar and Khar Tarvaga coal projects with the potential aim of divesting the assets, noting that it has executed confidentiality agreements with a number of parties and that negotiations are at an early stage.

“Following a...
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