Mongolia-based miner Mongolian
Mining Corporation (MMC) has announced that it has entered into a joint venture agreement with
China-based coke producer Risun
Mining for the joint transportation, sale and distribution of coal produced by MMC. MCC and Risun will respectively hold 51 percent and 49 percent in the joint venture company named Tianjin Zhengcheng Import and Export Trade Co., Ltd.
The core business of the joint venture is to develop markets for MMC's coal sales business, namely marketing and sales of the hard
coking coal to be supplied to customers in the Tangshan, Baoding, Xingtai, Shijiazhuang areas of Hebei Province and in the northern part of Shandong Province in
China, including but not limited to coke-chemical plants located in these regions, and owned and operated by Risun Group.