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Electronics producer Karce in $179 million mine purchase

Friday, 12 October 2007

Hong Kong-based Karce International Holdings Co. Ltd. has announced it is purchasing mining rights in Mongolia for $179 million.

Karce, a manufacturer of electronics products, said it was purchasing Silverway Pacific Ltd., which indirectly holds mining and exploration licenses for the Khuldiin South Coal Mine, and an exploration license for Khuldiin North Coal Mine and TN Coal Mine.

The Khuldiin Coal Mines are about 150 kilometers north of Ulaanbaatur, while TN Coal Mine is 156 kilometers south of the capital city.

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