Origo Partners and Trafigura Beheer B.V. have formed a joint venture company, Trafigura-Origo MGL to invest in coal and iron ore opportunities in Mongolia.

The Joint Venture will benefit from the combination of Origo’s transactional, geological and technical expertise in Mongolia and Trafigura’s global and Mongolian experience in commodities production, trading and logistics.

The Joint Venture, to be owned 50:50 by wholly-owned Mongolian subsidiaries of Trafigura and Origo respectively, will invest in a number of already identified iron ore and coal exploration projects in Mongolia with the objective of targeting further high-grade deposits with the potential for significant export volumes.

Origo and Trafigura have also agreed to consider expanding the scope of the Joint Venture into other countries in the region, such as Kazakhstan and Russia and to cover all commodities At 9:36am: (LON:OPP) share price was +0.25p at 33.75p