December 29, 2016 08:57 ET
HONG KONG, CHINA--(Marketwired - Dec. 29, 2016) - Reference is made to the SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) (the "Company") announcement relating to the interest obligations with CIC dated December 20, 2016. The Company today announces the execution of a new deferral agreement ("December 2016 Deferral Agreement") with China Investment Corporation ("CIC") for a revised repayment schedule of US$20.7 million of cash interest and associated costs originally due on December 19, 2016 ("December 2016 Deferral Amounts"). The key terms of the December 2016 Deferral Agreement include the below:
SouthGobi (TSX:SGQ)(HKSE:1878), listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining and exploration licences of its other metallurgical and thermal coal deposits in South Gobi Region of Mongolia. SouthGobi produces and sells coal to customers in China.
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