SouthGobi Misses Deferred Obligation Payments to China’s CIC
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Mongolian coal miner SouthGobi Resources Ltd. said it hasn’t repaid a deferred interest obligation and is again renegotiating a repayment plan with sovereign wealth fund China Investment Corp.
The deferral stemmed from a May 30 agreement to repay $18.7 million by June 17, SouthGobi said in a Hong Kong stock exchange filing Friday. There is no assurance that a plan favorable to the company will be concluded, it said.