Jinshan Gold Mines and Monnis International have signed a memorandum of understanding for joint Gold Exploration and development in Mongolia.

Jinshan will own a 51% equity stake, while Monnis will own the rest in the acquired projects.

Jinshan, which will supervise and control the acquired projects, will be able to strengthen its business in Mongolia through the partnership.

Monnis, which was incorporated in 1998, has expanded its activities in the fields of mining, geology, energy, banking and construction.