SouthGobi Energy Resources has acquired the coal division of Ivanhoe Mines and now controls 55 coal exploration licences covering more than 20,700sqkm in southern Mongolia.

SouthGobi Energy Resources was formerly Asia Gold with the new name more accurately reflecting the company"s focus on integrated coal and energy development in southern Mongolia, near the border with China.

The company's coal portfolio includes the Ovoot Tolgoi (formerly Nariin Sukhait) project and five other exploration and development projects. Exploration at Ovoot Tolgoi has discovered coal resources totalling approximately 150 million tonnes in the measured and indicated categories and an additional 29 million tonnes in the Inferred category.

SouthGobi also has two new directors - Stuart (Tookie) Angus and Robert Hanson.

Tookie Angus is an independent business advisor to the mining industry. He was most recently managing director - mergers and acquisitions for Endeavour Financial and before this was a partner at Canadian law firm Fasken Martineau DuMoulin and headed that firm's Global Mining Group.

Robert Hanson, a director of Ivanhoe Mines, is chairman of UK-based Hanson Capital Limited and the Hanson Transport Group Limited. Formerly an associate director of NM Rothchild & Sons, he was also a main board director of Hanson Plc, and of its former subsidiary, Peabody Coal, with a specific responsibility for mergers and acquisitions.

Ivanhoe Mines is SouthGobi Energy Resources' largest shareholder, owning about 90% of the issued and outstanding shares.