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SouthGobi announces the appointment of Non-Executive Director

Published by
Global Mining Review,

SouthGobi Resources Ltd., which owns and operates the Ovoot Tolgoi coal mine in Mongolia, has announced the appointment of Jianmin Bao as a non-executive director of the company. He was nominated for appointment as a director of the company by China Investment Corporation pursuant to a contractual nomination right granted to CIC in connection with the convertible debenture issued by the company in 2009.

Bao is currently the managing director of CIC Capital Corporation, a subsidiary of CIC, responsible for overseeing investment projects in infrastructure, energy, oil and gas, minerals and related investment funds at CIC Capital since 2015.

Bao joined CIC in 2011 when he managed North American fund investments and private credit market investments in the Private Equity Department at CIC. Prior to joining CIC, Bao held the position of Vice President at the Beijing branch of HSBC Bank (China) Company Limited and various senior positions in the Global Investment Banking Division of HSBC China from 2006 - 2010.

There is no specific term or proposed length of service for Bao as a NED but he will be subject to retirement and re-election at the annual general meeting of the company in accordance with the articles of continuation of the company.

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Mongolian mining news