A. and Credit Suisse AG, have committed to underwrite the financing.

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The company could also strike a friendly deal with minority shareholders by spinning off the non-Mongolian assets, plus cash, to investors, the scenario analysts such as those at Credit Suisse AG see as most likely.

WSJ: A Battle for Mongolia's Copper Lode

European banks including UBS AG, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Credit Suisse Group AG have announced more than 70, 000 job cuts since midyear, compared with 42, 000 by U.S. peers, according to data compiled by Bloomberg.

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In a sign of the runaway jitters that are pounding bank stocks, Credit Suisse Group and UBS AG denied they borrowed the funds, saying their liquidity remains strong.

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