[Featured Stock] NextBT Rises Over 5%... Spotlight on Mongol Coal Mine Stake Amid Energy Crisis
[Asia Economy Reporter Park Jihwan] On the 8th, NextBT's stock price is on the rise. This is interpreted as a result of the fact that it holds shares in a coal mine amid the global energy crisis.
As of 10:25 AM on the same day, NextBT is trading at 1,765 KRW, up 5.06% (85 KRW).
NextBT holds a 21% stake in Hanmong Energy Development, which acquires and operates coal mines. In December 2010, NextBT established Hanmong Energy Development, a joint venture (JV) with Korea Coal Corporation and Sunjin Group Limited Company to acquire coal mines in Mongolia.
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Through Hanmong Energy Development, it acquired a 51% stake in the Huutgorshanaga bituminous coal mine located in the Kharkhagtangpak area of Mongolia. The total investment amount was 32.4 billion KRW, with Korea Coal Corporation investing 27.89 billion KRW, NextBT 3.71 billion KRW, and others 800 million KRW in the coal mine acquisition project.
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