Maples acted as Cayman Islands counsel to Mongolian Mining Corporation ("MMC") on the issue of the US$350,000,000 8.44% Guaranteed Senior Notes due 2030 by Energy Resources LLC and MMC. The issue of new notes closed on 3 April 2025. MMC is a leading Asian coking coal producer engaged in the open-pit mining and processing of coking coal sourced from its Ukhaa Khudag and Baruun Naran deposits, located in the South Gobi Province of Mongolia.
The team based in the firm's Hong Kong office acted as Cayman Islands counsel to MMC and was led by Corporate Partner Karen Zhang Pallaras, with assistance from Corporate Legal Manager Charmaine Chow.
MMC was represented by Allen Overy Shearman Sterling as to US law, Davis Polk & Wardwell as to Hong Kong law and Snowhill Consultancy LLP as to Mongolian law, and the initial purchasers, The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley & Co. International Plc, were represented by Linklaters Singapore Pte. Ltd. as to US law and Melville Erdenedalai LLP as to Mongolian law.