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Mongolian Coal Producer Unit To Pay $11.5M In Supply Row

Law360, New York (January 11, 2018, 7:14 PM EST) -- A subsidiary of one of Mongolia's largest coal producers has been ordered by a Hong Kong arbitral tribunal to repay $11.5 million to a commodities firm following a dispute stemming from a coal supply agreement, according to a Thursday notice.

SouthGobi Resources Ltd., which is listed on both the Toronto and Hong Kong stock exchanges, said that the tribunal ordered SouthGobi Sands LLC to make the payment to First Concept Industrial Group Ltd. The award includes additional pre- and post-award interest, according to SouthGobi's statement....
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