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Century City seeks to raise $85 million for Mongolian mining venture PDF Print E-mail
Wednesday, 23 May 2007

Century City International of Hong Kong is seeking to raise $85 million U.S. for funding mining projects in Mongolia. 

Additionally, Century City has reportedly hired consultants to quicken a review of uranium, coal and other mineral resources in Mongolia. 

News from Hong Kong claims Century City, controlled by Lo Yuk-sui, seeks to create an energy portfolio to complement its existing real estate, development and construction businesses. 

Century City further announced Monday that it has obtained mining rights to a 2,290 hetacre coal site through its Chain Bright unit. 

Chain Bright is also expecting to be issued a license soon to mine Mongolian uranium. 

Chain Bright has reportedly been in negotiations with mainland China coal distributors to purchase its Mongolian coal. 

To raise the capital for its entry into Mongolian mining, Century City has begun selling its company shares on the Hong Kong equity market.

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The Hovsgol GEF/World Bank launched their new website. It contains lot's of information on the area of Hovsgol and the research that is being carried out there.
You can see it yourself at hovsgolecology.org.