March 22 (Bloomberg) -- Erdene Resource Development Corp. Chief Executive Officer Peter Akerley talks about Mongolia's mining industry and the prospects for the country's economic growth. Akerley also discusses gold prices. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg video from http://www.bloomberg.com/video/88759704/)

China Shenhua Energy Co. (1088), the listed unit of the nation’s biggest coal producer, said it expects 2012 sales volumes to surpass a target set at the end of last year because of rising demand. Coal sales may increase to 425 million metric tons, based on the “positive results” seen in January and February, Chairman Zhang Xiwu told reporters in Hong Kong today.

^{SINGAPORE (Standard & Poor's) March 23, 2012-Standard & Poor's Ratings Services said today that its corporate credit rating on Mongolia-based coking coal producer Mongolian Mining Corp. (MMC; B+/Stable/--) and its rating on MMC's senior notes maturing 2017 are unaffected by the company's decision to increase its issuance to US$600 million. We estimate that MMC's ratio of total debt to EBITDA would increase to 2.9x, from 2.6x based on our original issue size assumption. At the same time, its ratio of funds from operations (FFO) to total debt would decline to about 24% in 2012 with a US$600 million notes issue size. These ratios remain within the ranges of 2.5x-3.5x for total debt to EBITDA and 25%-35% for FFO to total debt that we expected for 2012 and 2013, and are commensurate with our 'B+' corporate credit rating on MMC. In our base-case scenario, we originally considered ratios of total debt to EBITDA of 2.6x and FFO to total debt of 28%. This was released by Reuters.}

Resource from www.erdene.com.  Dated: 26 Oct, 2011

Encouraging polymetallic-gold assay results have been confirmed from the first drill program at Erdene Resources’ Altan Nar (Golden Sun) property in southwest Mongolia. The results are from a shallow, four-hole drill program focused on epithermal-style gold, silver and base metals mineralization.

The 406 metre drill program was completed in mid-September over a 2km x 3km target area containing multiple prospects with several gold-bearing epithermal-style quartz breccia zones. Initial intersections show 55 metres of 1.02 grams/tonne gold and 12 grams/tonne silver, including 23 metres of 2.07 grams/tonne gold and 23 grams/tonne silver.