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UPDATE 2-SouthGobi Resources says CEO arrested in China
November 17, 2017 / 2:35 PM / a month ago

UPDATE 2-SouthGobi Resources says CEO arrested in China

* Aminbuhe arrested on Oct. 11, detained in Rizhao - SouthGobi

* Board forms special panel to probe charges against CEO - firm (Adds no comment by person at Rizhao detention center)

Nov 17 (Reuters) - Coal miner SouthGobi Resources Ltd said on Friday Chairman and Chief Executive Officer Aminbuhe was arrested on Oct. 11 and detained at the Rizhao City Detention Center in China as a suspect in a fraudulent loan case.

SouthGobi’s board has formed a special committee to investigate the charges against Aminbuhe, it said.

Earlier this week, the company said Aminbuhe was on leave and appointed Bing Wang as interim CEO.

A person who answered the phone at the Rizhao detention center when Reuters called on Saturday would not comment on Aminbuhe’s detention.

Aminbuhe joined SouthGobi as non-executive director in August 2015 and became the CEO a month later.

Before joining SouthGobi, Aminbuhe was a director at National United Resources Holding Ltd.

Vancouver-based SouthGobi, whose primary market is China, operates its flagship coal mine in Mongolia. (Reporting by John Benny in Bengaluru; Additional reporting by Elias Glenn in Beijing; Editing by Maju Samuel and Muralikumar Anantharaman)

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