MEC

June		Awarded Leighton Asia an AUD273 million, 6-year contract to develop and operate the Khushuut coal mine project in Western Mongolia.
January		Entered a long term coal supply agreement with Baosteel Bayi for supplying a minimum of at least 9.6 to 10 million tonnes coking coal through years 2010 to 2020 with upside from a desired purchase of accelerated and further productions.

December		MoEnCo geologist, Sainizaya Tumur was awarded the "Medal of the Best Geologist of Mongolia" from the Government of Mongolia for her contribution to the geologic sciences in Mongolia.
November		Selected Leighton LLC as international mining contractor for the Khushuut coal project.
October		200 tonnes of bulk samples of coal being transported from the Khushuut site to the potential customer through the Yarant/Takeshenken border into Xinjiang, PRC. This is the historical first delivery of coal from Mongolia to Xinjiang through this border.
September		Substantially completed of the road foundation work of the Khushuut Road.
July		Acquires 2,986 hectares of ferrous metals exploration concession in Bayan-Olgiy, Western Mongolia. Will conduct further exploration over the area over time.
January		Xinjiang Kaiyue Yuan obtains PRC government approval to increase total investment limit to RMB700 million to facilitate resources projects in Xinjiang, PRC.

November		Change of address of principal place of business in Hong Kong.

October		Completion of acquisition of 25% of Xinjiang Kaiyue Yuan.

September		Senior appointment for the post of Director of Oil and Gas - Dr. Cai Yi.

		Acquires 20% benefits in 1.18 million hectares of oil and gas concessions in Southern Mongolia. This follows contested international bid of Ergel XII petroleum block. MEC will invite CNPC Daqing Petroleum to assist in the project. The production sharing contract is being finalized and raified with the government of Mongolia.

July		Completion of disposal of ground floor and basement of Bank of America Tower for HK$540 million.

		Awards Khushuut road works contracts for RMB866 million and commences construction of the Khushuut Road.

June		Finalizing mine plan for initial 3 million tonnes mining operations concentrating on coking coal. Commences further geological reconnaissance and exploration of concession areas in Western Mongolia.

		Proposed acquisition of 20% joint venture interest for coal resources in Xinjiang, PRC with Chinese geological bureaus as partners. MEC would acquire 25% interest in Xinjiang Kaiyue Yuan to provide MEC an attributable 20% stake in the project, through Xinjiang Kaiyue Yuan's 80% stake under the joint ventures to be established with the geological bureaus.

May		Acquires 263,008 hectares of concession areas in Olan Bulog and Gobi Altai for coal, ferrous and non-ferrous metals resources. Geological reconnaissance and exploration planning commences.

April		Appoints Mr. Liu ZhouWei, Deputy Secretary of All-China Federation of Industry and Commerce as Executive Director. Reports 136 million tonnes of JORC in-place resources. Completion of subscription by CTF of HK$2 billion zero coupon convertible note.

March		Co-operates with ACRE MCC. Appoints Deloitte as auditor.

February		Subscription by CTF of HK$2 billion zero coupon convertible note.

January		Acquisition of 34,000 hectares of concession areas completed. 460 million tonnes of coal resources, including 181 million tonnes of coking coal resources demonstrated from 600 hectares explored. Further analytical work and mine plan commences.

December		Commences co-operation with China Railway No. 1 Engineering Group Company Limited on preliminary feasibility study of the "Khushuut Railway" as mid-term project.

September		Co-operates with China COSCO on intended transport guarantees.

August		CEO's summary of exploration progress. (Click here to see report)

May		Acquires 32,000 hectares of concession areas in Gants Mod, Western Mongolia for coal, ferrous and non-ferrous metal resources.
April		Acquisition approved by MEC's shareholders. CEO, Group Compliance Counsel and Consultant appointed.

January / February		Acquires 34,000 hectares of concession areas in Khushuut and Darvi, Western Mongolia for coal resources. Proposes name change to MEC. General Counsel appointed.