Sam Energy Signs First Coal Trade Contract with Mongolia's Osk LLC

February 7, 2023 – At the invitation of Mr. Chimba, Chairman of Mongolia’s Osk LLC, the General Manager of Sam Energy Limited led a delegation to visit Osk LLC’s headquarters in Ulaanbaatar for business negotiations. Both parties exchanged views on coal trade and supporting railway construction projects, and signed their first coal trade contract, marking the official launch of cross-border coal trade cooperation. The signing ceremony was witnessed by the Deputy General Manager of Sam Energy and the General Manager of Osk China Company.

Osk LLC is a large-scale integrated coal mining company in Mongolia, operating a major coking coal mine in the western South Gobi region. It plans to increase production by 10 million metric tons in 2023. Chairman Chimba warmly welcomed the delegation, expressing Osk’s commitment to building a model for bulk trade cooperation between Mongolia and China with Sam Energy. The General Manager of Sam Energy thanked Chairman Chimba for the hospitality, emphasizing that leveraging Sam Energy’s strong market operations and Osk’s high-quality coal resources, both parties will achieve mutually beneficial, high-quality collaborations.

Following the meeting, Sam Coal Xinjiang Co., Ltd. (a subsidiary of Sam Energy) and Osk LLC executed the first coal trade contract, taking a substantive step in their partnership.

Simultaneously, the parties discussed the construction of the Ceke-Shiveekhuren Port Railway and logistics park. Chairman Chimba affirmed Osk’s willingness to jointly advance railway and industrial park development with Sam Energy, aiming to establish strategic cooperation that contributes to bilateral economic relations.