Source: Bloomberg.com                         Date: 1 September, 2010

Mongolian Mining Corp. is believed to have received approval from the Hong Kong Stock Exchange for a USD1-billion initial public offering, the first by a Mongolian company in the territory.  Mongolian Mining, formerly known as Energy Resources, plans to list as much as 25 percent of its freely traded shares after the initial sale, said people in the know, who declined to be identified because the information is not yet public.

No companies based in Mongolia are currently listed in Hong Kong. Mongolian Mining’s shares may begin trading in early October. New York-based JPMorgan Chase & Co. and Citigroup Inc. are the bookrunners for the IPO, according to the people.