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Soruce : Business Financial Newswire

Origo raises Mongolian presence

 

Private equity investor Origo Partners has completed investments in two Mongolian-based exploration companies following its $30m placing on June 11.

Origo is investing up to $5m for a 23% equity interest in Bumbat Consolidated, which is focused on coal, iron ore, copper and gold.

It has also acquired a 10% equity position and an option to acquire a 70% interest in Huremtiin Hyar, a copper and gold exploration company.

Origo says both companies have exploration licenses in areas where significant mineral occurrences have already been identified.

In November, the company acquired a 21% stake in Gobi Coal & Energy.

CEO Chris Rynning said, ‘We remain convinced that Mongolia’s unique geographical and geological position provides some of the best natural resource investment opportunities currently available to international investors.

‘Our presence on the ground and strong financial position following our recent fundraising gives a significant advantage in securing these investments as we continue to focus on the country in the coming months.’