Source: CITY A.M.               Date: 02 July, 2010

AIM-listed miner Polo Resources has finalized the sale of its coal and uranium joint venture in Mongolia, just days after pulling out of a merger with Australian peer Caledon citing volatile market conditions. Polo has sold its stake in the venture to China-based miner Winsway for USD35 million, after buying in May 2009 for USD25.8 million. The firm will receive a one per cent royalty on coal sold from licenses currently held in the joint venture.