Deloitte quits as auditor of SouthGobi Resources
aPRIL 17, 2012
SouthGobi Resources Ltd said on Tuesday Deloitte & Touche LLP resigned as auditor of the company on its own initiative prior to the expiry of its term of office.
SouthGobi, which sells metallurgical and thermal coal mainly to customers in China, said: “Deloitte has not expressed any reservations in its report for the two most recently completed fiscal years of the company or for any period subsequent to the last completed fiscal year.”
PricewaterhouseCoopers LLP has been appointed as the company’s auditor with effect from April 2, the company said.
SouthGobi said a day earlier that the Mongolian government suspended exploration and mining licenses for its Ovoot Tolgoi coal mine following Chinese aluminum giant Chalco’s bid to acquire a controlling stake in it.