MONGOL MINING (00975) is currently up nearly 5%. As of the time of writing, it has increased by 4.26%, trading at 7.34 Hong Kong dollars, with a transaction volume of 10.8934 million Hong Kong dollars.
According to Zhituo Finance APP, MONGOL MINING (00975) is currently up nearly 5%, as of the time of writing, it has risen by 4.26%, reported at HKD 7.34, with a transaction volume of HKD 10.8934 million.
In news, MONGOL MINING previously announced plans to purchase 50.5% of the issued and outstanding shares of Universal Copper LLC at a purchase price of USD 20.5 million. The announcement reveals that Universal Copper LLC is primarily engaged in the exploration of Copper and Other Nonferrous Metals and holds three special licenses for mineral exploitation.
The Board of Directors of MONGOL MINING stated that this proposed acquisition may diversify the company's revenue sources and reduce dependence on a single Commodity. In addition, this acquisition underscores the efforts made in accordance with the company's main strategy, including exploring business opportunities and expanding and diversifying its Business through potential strategic partnerships and joint ventures, while primarily identifying potential investment targets in Mongolia.