Marketing Agreement in Mongolia

Marketing Agreement in Mongolia

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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

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