OREANDA-NEWS. December 01, 2009. En+ Group sells its 31% stake in Gobi Coal & Energy within the business restructuring framework. Gobi Coal & Energy headquartered in Ulaanbaatar holds more than 20 licenses for exploration in coal basins in the Mongolian Gobi Desert.

The purchaser is represented by a consortium of investment funds led by Origio Sino-India PLC alongside Origio Resource Partners Ltd. and China Commodities Absolute Return Ltd, and shareholders of Gobi Coal and Energy as part of the preemption

Gobi Coal & Energy has a JORC compliant resource of 322 million tons of coking and thermal coal. The company is now producing small amounts of coal for local markets and completing a feasibility study for its two pilot projects of coal extraction of a truly commercial scale. To reach this, substantial investments into infrastructure development will soon be needed, i.e. building a rail road or a motor vehicle road to transport coal to markets outside Mongolia.

En+ Group CEO Vladislav Soloviev commented: "The business restructuring of En+ Group, including the sale of our stake in Gobi Coal & Energy, will allow us to focus on our long-term projects, including the development of the Tavan Tolgoi deposit in Mongolia".