Erdenes TT plans to mine 1.1 million tonnes of coal at the West Tsankhi block, however, that is still some time off as exploration has not yet begun. The East and West Tsankh blocks will help to generate USD 100 million tax revenue in first half of 2017 and to pay off the loans to Chalco and TT JV Co.

Alibaba Investment Ltd and Shen Guo Jun have offered HK$10 per Intime share. That would represent 42.25 percent more than the stock's last price of HK$7.03 on Dec. 28 when trading was suspended pending an announcement. The stock price surged 35 percent when trading resumed on Tuesday.

The Alibaba group currently holds 27.82 percent of Intime while Shen owns 9.17 percent. The pair plan to finance the purchase through internal cash resources and external debt financing.

Intime said in a statement to Hong Kong's stock exchange that Alibaba and Shen planned to explore development opportunities and implement a series of long-term growth strategies, which could affect its short-term growth.

"We don't divide the world into real or virtual economies, only the old and the new," said Alibaba Group Chief Executive Officer Daniel Zhang in a separate statement. "Those who cling on to the old ways of retailing will be disrupted."

"Our combination with Intime will enable us to tap into the long-term growth potential of a new form of retail in China powered by Internet technology and data," Zhang said.

China's retail sector is worth $4.5 trillion and is growing at 10.7 percent a year, Alibaba said. The e-commerce firm also said it was working with offline retailers to create a new shopping experience.

Alibaba initially took a stake in Intime in 2014 with an investment of $692.25 million.

Intime operates 29 department stores and 17 shopping malls in China, mainly in so-called first- and second-tier cities. In August, it posted a 21.3 percent fall in first-half profit amid declining sales, saying e-commerce had transformed the competitive landscape.

Separately, Alibaba Executive Chairman Jack Ma met U.S. President-elect Donald Trump on Monday and laid out his firm's plan to bring a million small U.S. businesses onto its e-commerce platform to sell to Chinese consumers over the next five years.

(Reporting by Donny Kwok; Editing by Anne Marie Roantree and Christopher Cushing)

Gildan will not take any of American Apparel's stores, but will own its brand and assume some of its manufacturing operations, the source said. The deal is subject to a bankruptcy judge approving it on Thursday, the source added.

American Apparel declined to comment, while Gildan did not immediately respond to a request for comment. The source asked not to be identified because details of the bankruptcy auction are confidential.

The auction for the retailer, famous for its sexually-charged advertising, also attracted an offer from California-based apparel maker Next Level Apparel, a source said earlier on Monday. However, Gildan won after raising its original $66 million stalking horse bid, the source added.

The bankruptcy auction also attracted interest from e-commerce giant Amazon.com Inc (AMZN.O), competitor Forever 21 Inc and brand licensor Authentic Brands Group LLC, which led a consortium to acquire Aeropostale Inc (AROPQ.PK) out of its bankruptcy last year, sources said last week.

American Apparel's struggles show the major challenges facing brick-and-mortar retailers as more consumers shop online.

Gildan plans to assume ownership of American Apparel's manufacturing plants in southern California, one of the largest garment-making operations in the United States with about 3,500 employees, sources have previously said.

The bulk of Gildan's manufacturing takes place in the Caribbean and Central America.

American Apparel filed its second Chapter 11 in November with about $177 million in debt after the failure of a turnaround plan implemented by its owners, a group of former bondholders. The company filed its first Chapter 11 in October 2015, and emerged early last year.

(Reporting by Jessica DiNapoli; Editing by Bernard Orr and Richard Pullin)

Headquartered in California, Razer was founded by Singaporean entrepreneur Min-Liang Tan.
The brand enjoys a cult status among the gaming community, who favour its sleek product designs and innovative offerings.
Gamers from around the world expressed their excitement about the device which is part of the firms Project Valerie.
"Razer always finds a way to outclass other brands. No offense to people who like other products," said Jason Vicencio.
"This device is a dream come true for every gamer on the go, no more having to cram graphics and line of vision into just one screen," commented Artie Derilo.
"I would love to open this up on an airplane while sitting in the middle seat," joked Marvin England
But other Facebook users like Malachy Hamilton questioned its design.
"What's the point in three screens? The point of a laptop is portability and being able to do work and some light gaming on the go," he said.
"For this, you'd need a beefy battery which would increase the weight, therefore making it less of a laptop."
Project Valerie is still a prototype and Razer has not yet published a possible release date or price.

The approval, said the company, consolidates into one the revised proposals to mine Centipede and Lake Way deposits, which were permitted by the previous WA government.

Under the terms of the permit, Toro Energy would need to begin mining such deposits within five years. However, uranium prices remain low, trading around $20 a pound. Last year, in fact, yellowcake became the worst performing commodity — it lost 41% of its value, touching a 12-year low of less than $18 a pound in November.

The market is not expected to pick up any time soon and its eagerly awaiting to see an anticipated increase in demand from China and India, as well as a decision on the future of Japan’s mothballed reactor fleet.

Toro now needs Federal approval, which normally follows the State decision. Its Wiluna project was the first uranium mine to win environmental approvals in Western Australia after the Liberal government overturned a ban on uranium mining in 2008. But Toro’s acquisition of the Lake Maitland deposit from Mega Uranium in mid-2013 meant the company had to go back to the drawing board in order to add the new asset to the mine plan.

While Australia does not use nuclear power itself, it is the world’s No. 3 uranium producer behind Kazakhstan and Canada.

BMW has already started work on the new factory in San Luis Potosi, Mexico. The facility will open in 2019 and produce the BMW 3 Series Sedan.
BMW says the factory will create at least 1,500 new jobs.
"The cars which will be produced in Mexico are for the global market, not only North America," the company said.
Related: Trump's Toyota attack sets off alarm bells in Japan
The German automaker has more than 30 factories in 14 countries around the world.
The South Carolina plant employs 8,800 people and is investing $1 billion to increase production capacity. About 70% of cars made there are exported globally.