China Baoli Technologies (HKG:0164) has entered into a memorandum of understanding with Van Pacific Resource to set up a long-term strategic cooperation related to mining production at the latter's coal mine in Mongolia, a same-day bourse filing said.
Under the MOU, the company will get an exclusive right in mining, producing, processing, transporting, and selling coal from the coal ore owned by Van Pacific Resource in Mongolia.
Van Pacific Resource will provide assistance for custom clearance, sales channel development, and client acquisitions.
The company is also looking to establish an exclusive pilot pithead coal power plant related to the Mongolia mining production and potentially further expand into cryptocurrency mining and a data center business.
Shares of the mobile technologies company closed over 6% higher on Monday.
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