Australia-based Guildford Coal Limited announced that it has concluded negotiations with Noble Resources International Pte. Ltd. regarding the funding of $22 million for the company's first coking coal sale from its Baruun Noyon Uul (BNU) mine in Mongolia to China during the first quarter of 2014.
As part of these negotiations the company has also reached an agreement with Noble to work together on potential options for the continuing development and expansion of the South Gobi region into a major coking coal producing region in Mongolia exporting into China.
Guildford Coal also stated that the 98 km haul road construction in Mongolia connecting the BNU mine to the coal distribution hub at Ceke, at the Chinese border has been completed.