Iron Mining International
From Taighde
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Iron Mining International (formerly known as Lung Ming) is a mining company based in Hong Kong. The biggest asset the company has is a mine in Mongolia, Eruu Gol.
Temasek Holdings has invested $150 million into the company. It teamed up with Hopu Fund in 2007 to take a partial stake in Lung Ming. The total investment was $300 million for three-year convertible bonds.
The China Investment Corporation subscribed to a $500 million convertible loan in October 2009. It may increase its investment by $200 million. The CIC has also invested in SouthGobi Energy, which has rights to the highly valued Mongolian mine Ovoot Tolgoi.
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