Project underground coal gasification in Mongolia will be conducted by a joint venture. This project will explore coal 1.8 billion tons of coal deposits in Mongolia. Companies that participate in the projects of coal gasification, among others: Yusenjiayu Environmental Protection Technology Beijing, Inner Mongolia, Xin Gu Goldbridge Clean Energy Mines and Tech.
The JV plans to make capital-raising activities for projects in the Hong Kong Stock Exchange not less than $ 120m and debt financing not more than $ 280m.
CGE is a mining company that will join the joint venture underground coal gasification in Mongolia. CGE will design, operate and manage the UCG plant.
Before the list, initial $ 1m fund to be donated by the JV partners in proportion to each party shareholder. CGE had to chip in $ 350,000, which will be funded from existing cash reserves.
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