Noble Group Ltd. subsidiary Noble Resources International Pte. Ltd. acquired an additional 10.0% stake in Aspire Mining Ltd. unit Northern Mongolian Railways Ltd. for US$1.4 million.
The unit now owns a 20% interest in Northern Mongolian Railways, according to the Dec. 28 release.
The consideration was satisfied through the conversion of debt-owed to Noble Resources by Ovoot Coking Coal Pte Ltd., a wholly owned subsidiary of Aspire.
Noble Resources International has also increased its stake in Aspire to 19.9% from 18.2% previously.