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Justin Kaplan, CEO of South Gobi Sands with operations in Mongolia was found guilty for evading from taxes and spent some time in prison. Mr Kapla was pardoned by the President Ts.Elbegdorj.

The case attracted attention of many. Media started to disclose information that Kapla started paying the debt off as South Gobi Sands, subsidiary of South Gobi Resources registered at the HK and Toronto SE , was said paid partially MNT 35.3 billion fine imposed by the state.

The amount which wasn’t clarified is withheld from the company’s account. US$1.2 million account has been frozen at Mongolian account. The mentioned amount later in October-November was transferred to the Court Decision Enforcement agency reducing the fine to US$16.5 m.

The sales for last quarter of 2015 went down by two times from the previous quarter, the financial statement presented. For Q4 of 2015 the “Southgobi Resources” sold 200 thousand tons of coal which equals to 1/3 of total mining operations. As the price for coal is not restoring in China, the main market for coal, the financial results are not well as expected, was reported by the company to the stock exchange.

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Монгол эхийг унших бол энд дарж орно уу