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