Mongolian Parliament OKs plan to sell 30% of Tavan Tolgoi mine
ULAANBAATAR – Mongolian lawmakers approved a plan to sell up to 30% of the troubled Tavan Tolgoi coal mine in the Gobi desert, the latest attempt to develop what’s anticipated to be massive coking and thermal coal deposits.
The north Asian country’s Parliament on Friday voted in favour of an initial public offering in State-owned Erdene Tavan Tolgoi. In a broadly written resolution running about 300 words, the legislation instructed Prime Minister Khurelsukh Ukhnaa to take "urgent measures" for the construction of a railway and roads related to the project.
A potential IPO is at least the third effort to develop the mine after international partnerships failed in 2011 and 2015. The latter included China Shenhua Energy, Japan’s Sumitomo, and Mongolian Mining investing $4-billion in the mine and a railway for sales to China.
"Based on the quality, a lot of commodity players will be interested," said Munkhjargal Otgon, deputy CEO of Ulaanbaatar-based Golomt Capital.
The Tavan Tolgoi deposit holds 1.8-billion tons of coking coal and 4.6-billion tons of high-quality thermal coal, according to an April 20 presentation by state resources company Erdenes Mongol.
Erdenes Tavan Tolgoi declined to comment.
In addition to the transportation routes, the resolution called for the construction of a power plant at the site, which had been part of Rio Tinto Group’s plans to develop the Oyu Tolgoi copper/gold mine.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
