VIKING MINES SIGNS SECOND COAL MOU WITH MONGOLIAN POWER AUTHORITIES

Ulaanbaatar /MONTSAME/ Viking Mines has signed a second future coal supply agreement with a Mongolian Government power authority for its Berkh Uul Bituminous Coal project. This further validates the rationale for Viking to takeover Auminco Mines and Berkh Uul’s potential to deliver high quality thermal coal, syas news published Thursday in Proactive Investors website. The non-binding Memorandum of Understanding was signed with Erdenet Power Plant State Owned Stock Company (EPP), a major supplier of electricity to the Erdenet copper mine. “The fact that Berkh Uul Project continues to be recognised by the Mongolian Government as a potential key supplier of coal to the EPP is a further significant milestone in the development of the project,” managing director Peter McMickan. “Auminco’s ongoing discussions with domestic end-users continue to confirm a local industrial demand in northern Mongolia for unwashed Berkh Uul coal, due to its low ash, low sulphur and relatively high calorific value. “This second MoU provides more evidence of the potential customer base for Berkh Uul’s coal.”