🕐28.04.10 - 04:55 Uhr

Hunnu Coal [ASX: HUN] - Comment on President of Mongolias Action on New Mining Licences



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Hunnu Coal [ASX: HUN] - Comment on President of Mongolias Action on New Mining Licences

Hunnu Coal (ASX HUN) advises that the company supports the recent decision by the Mongolian President to improve the licensing process in the country.

Following Mongolian President Tsakhia Elbegdorjs decision to temporarily suspend the issuance of new mining licenses in Mongolia, Hunnu Coal (ASX: HUN) has announced that it fully supports the decision by the President to improve the licensing process in the countrys exploration and mining sector.



The Company believes the action will only enhance the investment environment for genuine long term investors like Hunnu Coal.

According to recent media coverage, the Mongolian President gave the orders as head of the National Security Council.

The freeze on new licences will remain in place until a new law is passed.

The President was reported as saying that almost half of the exploration license holders in Mongolia neglected their legal duties to provide their annual exploration reports and are ignorant of their main duty to explore for minerals.

For further information, please contact:

George Tumur
Managing Director

Matthew Wood
Executive Chairman

Tel: +61 8 9200 4267
E-mail:

Media:
Fortbridge +61 2 9331 0655
Bill Kemmery +61 400 122 449
E-mail:

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