News.mn, Mongolia. The impasse over Oyutolgoi has eclipsed the other important issue of Tavantolgoi where no progress is being made. Last week the MPRP Administrative Council demanded that work there should begin without much delay, if only to secure the funds to pay citizens the Motherland Grant.
Many companies have expressed interest to invest in Tavantolgoi, but everybody is in the dark about who will be chosen by the Government. The first level of open pit mining should start in 2010 and the second in 2011. Simultaneously, the initial work on the refinery can be completed in 2011. They want the head of the MPRP group in Parliament, L.Lundeejantsan, to be given the responsibility of making all preparations.
It is said that the Tavantolgoi project was prepared on the basis of detailed study, but actual information on how the mining would proceed is scarce. MP Kh.Badamsuren has estimated it is possible to get USD1 billion a year when all the strategic mines are in use. Tavantolgoi has five separate deposit areas, each with its own license. Japan, China, Russia, Canada, and the USA are among the countries in the race, and the companies that have shown interest include such giants as Renovo, Bazovi Element, BHP Billiton, KOPEC Consortium, Peabody Energy, Mitsui, Itochu, Sojits, Marubeni, Sumitomo, Vale, Jindal Steel Power, and Xinhua Energy.
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