Alexander Mining PLC Marketing Agreement in Mongolia (9224T)
January 11 2017 - 7:15AM
UK Regulatory
TIDMAXM
RNS Number : 9224T
Alexander Mining PLC
11 January 2017
11 January 2017
Alexander Mining plc
("Alexander" or the "Company")
Marketing Agreement in Mongolia
Alexander Mining plc is pleased to report that it has signed a
marketing agreement ("Agreement") with Dr. Jadambaa Temuujin for
the potential commercial adoption of its leaching technologies in
Mongolia. The Agreement has an initial term of two years, with a
rolling mutually agreeable six monthly extension thereafter.
Martin Rosser, Chief Executive Officer, said: "Mongolia, with
its favourable location adjacent to China, is a noted mining
country and is highly prospective for the discovery of new mineral
deposits. We greatly look forward to working with Dr. Jadambaa
Temuujin as our agent to capitalise on the country's growing mining
industry."
Under the Agreement, if Dr. Temuujin introduces an opportunity
which leads to Alexander executing a commercial technology
licencing agreement and it receiving licencing revenue, then it
will pay Dr. Temuujin a commission fee from the licensing revenue
for the first three years of licence commercial use.
Background on Dr. Jadambaa Temuujin
Dr. Jadambaa Temuujin is currently Chief Research Scientist at
the Institute of Chemistry and Chemical Technology, part of the
Mongolian Academy of Sciences. He received his MSc degree from Kiev
Polytechnic Institute, Ukraine in 1991, PhD from Mongolian
Technical University in 1995 and DSc from the Mongolian Academy of
Sciences in 2006. In 2011, he was elected into the Mongolian
Academy of Sciences and became an Academician.
Dr. Jadambaa Temuujin is the Foundation President of the
Mongolian Association of Chemists and Chemical Engineers and
Mongolian Member of the International Advisory Board of the
International Mineral Processing Council (IMPC).
As well as being an academic researcher he has strong ties with
many leading major, mid-tier and junior mining and minerals
processing companies in Mongolia. He maintains ongoing intensive
collaborations with various mining companies on mineral processing.
Dr. Jadambaa Temuujin is also a technology consultant to several
Mongolian Government Ministries and sits on several technology
advisory committees.
Dr. Jadambaa Temuujin is an expert in the Research, Development
and Commercialisation of novel processes and was the founding
Chairman of a company to manufacture low-cost geopolymer concrete
from a range of different industrial wastes. He has organised
mineral processing short courses such as gold processing course for
mining companies' employees, for academic researchers and has
co-authored a book on gold processing.
Background on mining in Mongolia
In the past 20 years, the Mongolian economy has been
increasingly driven by the exploitation of its vast mineral
resources. Mining accounted for 20% of the GDP in 2013, double that
in 2003. Numerous international and domestic companies are
exploring in Mongolia and world class deposits of copper and coal
have both been identified and exploited, e.g. Oyu Tolgoi, Erdenet
and Ovoot Tolgoi. Mongolia is currently a significant exporter of
copper, coal, molybdenum, silver and zinc.
The Mongolian government is actively exploring ways to increase
the extent of processing within the country. Plans are underway to
build a centralised copper smelting and converting facility near
Ulaan Baatar to reduce concentrate exports. Further domestic
concentrate processing opportunities remain.
This announcement is inside information for the purposes of
Article 7 of EU Regulation 596/2014.
ENDS
For further information, please contact:
Martin Rosser
Chief Executive
Mobile: +44 (0) 7770 865
341
Matt Sutcliffe
Executive Chairman
Mobile: +44 (0) 7887 930
758
Alexander Mining plc
Tel: +44 (0) 20 7078 9566
Email: mail@alexandermining.com
Website: www.alexandermining.com
Northland Capital Partners
Limited
Matthew Johnson / Gerry
Beaney
+44 (0) 20 3861 6625
(Corporate Finance)
John Howes
(Corporate Broking)
Turner Pope Investments
(TPI) Ltd
James Pope / Ben Turner
+44 (0) 20 3621 4120
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRUAAURBOAAAAR
(END) Dow Jones Newswires
January 11, 2017 07:15 ET (12:15 GMT)
Eenergy (LSE:EAAS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Eenergy (LSE:EAAS)
Historical Stock Chart
From Sep 2023 to Sep 2024