* Mongolian Mining Corp ups IPO price range 3 pct -term sheet
* Higher range signals strong appetite for Mongolian firms
* More Mongolia resources companies expected to seek HK IPOs

HONG KONG, Sept 27 (Reuters) - Mongolian Mining Corp, Mongolia"s largest privately held domestic producer and exporter of coking coal, raised its initial public offering price range by 3 percent, according to a term sheet, in a sign investors are hungry for exposure to Mongolia"s emerging resources sector.
The coal miner now plans to raise up to $702 million from the IPO instead of an earlier plan of up to $681 million, according to the term sheet, which was obtained.
Mongolia has drawn serious attention from global investors after the deal sealed last October between Ivanhoe Mines Ltd (IVN.TO) and Rio Tinto Ltd (RIO.AX)(RIO.L) to develop the $3 billion Oyu Tolgoi mine, one of the world"s biggest untapped copper and gold deposits.
Now, Mongolia"s domestic companies are seeking foreign capital to help them expand, and the government is trying to connect local companies and its stock market with the rest of Asia -- from Hong Kong to South Korea to Japan -- hoping to turn domestic names into regional or international brands.
Mongolian Mining, whose Ukhaa Khudag (UHG) mine is roughly 245 km from Mongolia"s border with China, is selling 719.4 million shares or 20 percent of its enlarged share capital, at HK$6.48 to HK$7.56 each, the term sheet said.
This compared with an original range of HK$6.29 to HK$7.34 per share.
MORE MONGOLIA IPOS
Mongolia Mining will be the the first company listed in Hong Kong to be fully based and operated in Mongolia.
JP Morgan (JPM.N) and Citigroup (C.N) are handling the IPO.
Separately, Chinese coking coal logistics company Winsway -- which imports and distributes Mongolian coal -- is selling 990 million shares at HK$3.25 to HK$4.50 each in a Hong Kong IPO that is scheduled to start trading on Oct 11.
Bank of America Merrill Lynch (BAC.N), Deutsche Bank (DBKGn.DE) and Goldman Sachs (GS.N) are handling the IPO.
Winsway, partly owned by China-focused private equity fund Hopu Investments, accounts for about 65 percent of total Mongolian coal imported into China in 2009, based on SXcoal"s import data.