The company has entered into an agreement securing an option to convert some of the payment into equity in a venture that will build a railway line to the Chinese border.
Further, the company has also gained access to 50% of the railway’s capacity, and the state-owned Mongolian Railway will take over existing construction contracts and obligations, the company said in its statement.
The company, earlier in May 2012, entered into an agreement with Mongolian government to build and operate the railway base infrastructure between Ukhaa Khudag coking coal mine and Gashuun Sukhait border check point of Mongolia.
