Sam Energy Collaborates with CREC No.4 Mongolia Company to Accelerate China-Mongolia Energy Corridor Development

On September 21, 2023, after multiple rounds of negotiations, Sam Coal (Baotou) Co., Ltd. ("Sam Coal"), a subsidiary of Sam Energy Limited, CREC No.4 Engineering Group Co., Ltd. Mongolia Branch ("CREC No.4 Mongolia Company"), and Mongolia Tumen Eri Investment LLC ("Tumen Eri Investment Company") reached consensus on the Tumen Eri Coal Mine Project. The parties formally signed a Tripartite Strategic Cooperation Agreement for the DOVTSOG KHUDAG Coal Mine and related trade contracts. The signing ceremony was witnessed by General Manager of Sam Energy, Zhang Shuangqin, Deputy General Manager of Sam Energy & Head of Sam Coal, Deng Erlong, Deputy General Manager of CREC No.1 Engineering Co. (subsidiary of CREC No.4), Lü Haiyun, Project Manager of Tumen Eri Coal Mine, N. Orgil, Executive Manager of Tumen Eri Investment LLC, and relevant leaders from Sam Energy’s partner companies.

CREC No.4 won the bid for the Tumen Eri Coal Mine integrated mining project in 2022, with its contract value becoming the highest among the Group’s overseas cash-funded projects. This marks CREC No.4’s landmark entry into Mongolia’s mineral resources sector. Leveraging group resources and extensive cross-border coal trade experience, Sam Coal will enhance transportation and sales capacity of Tumen Eri coal in China, establishing a complete energy trade chain covering mining, transportation, and distribution. This will deepen China-Mongolia energy cooperation and substantially benefit both nations.

This agreement signifies a solid step toward realizing the China-Mongolia Energy Corridor. Sam Energy will continue leveraging its strengths to advance bilateral energy cooperation and contribute to safeguarding national energy security.