Home arrow News Archives arrow Mining & Minerals arrow Media reports: Mongolia to sell rights to massive Tavan Tolgoi coal mine

 
Mongolia 's Latest News & Current Events, Directly from Ulaanbaatar

Login

Syndicate

Latest comments

Mongolia seeks $3 bi...
But I do appreciate and see the angles of Roy's postings to ...
More...
By INTJay

Mongolia seeks $3 bi...
If the Mongolian government can easily raise capital from in...
More...
By Threefold Minority

Mongolia seeks $3 bi...
Thanks for the response. Would like to hear from more on thi...
More...
By INTJay

Now Online...

Media reports: Mongolia to sell rights to massive Tavan Tolgoi coal mine PDF Print E-mail
Tuesday, 20 January 2009
ImageMongolia is expected to sell the rights to mine the massive Tavan Tolgoi coal mine. 

Media reports Monday said banking giants JPMorgan and Citigroup are being considered to jointly handle the sale of the mine. Mongolian officials are hoping mining rights could be worth as much as $2 billion. 

Tavan Tolgoi, located in the Gobi Desert, is often called the world's largest untapped coking coal deposit. Coal deposits are believed to be as high as 6.5 billion tones. 

A decision on the company to receive the mining rights is expected within weeks. Further, the government intends to keep a 51 percent ownership in the site, according to Reuters news service. 

At the same time, falling mineral prices and ongoing financial and banking problems in Mongolia have drawn a shadow over the prospects for quickly selling the mining rights at Tavan Tolgoi. 

Up to 33 percent of Mongolia’s gross national product comes from mining. 
 
  Be first to comment this article
RSS comments

Only registered users can write comments.
Please login or register.

Powered by AkoComment Tweaked Special Edition v.1.3.0

 
< Prev   Next >

Google Comment

Join us with your Google account....

General Discussion

Classifieds

Latest Forum Posts

Statistics

Members: 1264
News: 2204
WebLinks: 17
Visitors: 12005386

Google Translation

Translate This Website

Mongolia Websites

A site with information related to the environment and buddhism. There is a section on the Northern Buddhist Conference on Ecology and Development.
www.buddhistecology.org/