The PMAs from Mineral Resources Authority of Mongolia (MRAM) will enable the miner to proceed with the mining license application process.
The agreements obtained through Mongolian subsidiary SouthGobi Sands represent three mineral exploration licenses – 9449X, 5267X and 13779X. License 9449X relates to certain areas associated with the Soumber deposit, while licenses 5267X and 13779X are for the Zag Suuj deposit.
SouthGobi, meanwhile, has withdrawn the notice of investment dispute stating that procurement of three PMAs along with the PMA granted earlier on 18 January 2013, resolves the primary aspect of that dispute.
The developments reflect the company’s improving relationship with key stakeholders in Mongolia, the company added.
