On the 22nd of December, a consortium of Shenhua Energy from China, Sumitomo Corporation from Japan and “Energy Resource” company from Mongolia was announced as the strategic investor for Tavan Tolgoi coking coal deposit.
The working group responsible for the selection has taken this decision after careful assessments over the two finalists’ financial proposals. The final bidders were abovementioned consortium and Peabody Energy from the USA, both of which had satisfied the requirements on their technical proposals during the selection bid.
The selected bidder will be responsible for the investment and development of the deposit. However, the ownership of the deposit will be kept fully by the Government of Mongolia.