Mongolian Mining Explains Higher Service Caps and Tightens Oversight on Connected Transactions

The latest update is out from Mongolian Mining ( (HK:0975) ).

Mongolian Mining Corporation has issued a supplemental announcement detailing how it set higher proposed annual caps under its service agreement for office and camp support services provided by Energy Resources and USS. The company attributes the substantial increase mainly to a roughly 29% rise in per man‑day rates for catering, camp and accommodation services, including enhanced meal options for employee well‑being and cost inflation over the past three years, as well as a 46% increase in employee numbers that will drive greater use of these services. The miner also clarified its internal control and procurement procedures for continuing connected transactions, noting that while it aims to obtain at least three quotations for pricing comparisons, this requirement may not always be achievable in tender processes due to market constraints, as shown by a recent tender in which only two bidders participated; the board emphasizes that oversight mechanisms remain in place to ensure terms are fair, on normal commercial terms, and in the interests of shareholders.

The most recent analyst rating on (HK:0975) stock is a Hold with a HK$11.00 price target. To see the full list of analyst forecasts on Mongolian Mining stock, see the HK:0975 Stock Forecast page.

More about Mongolian Mining

Mongolian Mining Corporation is a Hong Kong–listed resources group incorporated in the Cayman Islands, primarily engaged in coal mining and related operations in Mongolia, with offices in Ulaanbaatar and various camps and operational sites supporting its workforce and production activities.

YTD Price Performance: 1.80%

Average Trading Volume: 4,517,457

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$11.13B

See more data about 0975 stock on TipRanks’ Stock Analysis page.