Mongolian Mining jumps most in four months on strategic alliance with Erdene

Mongolian Mining

11/01/2023 03:02

** Shares of coking coal producer Mongolian Mining Corp
 0975.HK  jump as much as 11.8% to HK$2.55, their biggest
intraday pct gain since Sept 6, 2022
    ** Stock on course for a third consecutive session of gains
    ** Mongolian Mining announces strategic alliance with Erdene
Resource Development Corp (ERD)  ERD.TO  and has agreed to buy a
$40 mln stake in ERD's Mongolia gold exploration unit Erdene
Mongol LLC, as the Hong Kong-listed firm aims to diversify its
revenue sources and business operations  urn:newsml:reuters.com:*:nFWN33V3XW
    ** The Hang Seng Commerce & Industry Index  .HSNC  rises
1.9% and the material index  .HSCIM  climbs 0.8%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  gain 1.4% each
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))