Tavan tolgoi coal deposit investment tender is postponed

The Mongolian government decides to postpone a tender to invest in Tavantolgoi coal deposit. The deadline of the tender to choose strategic investors for Erdenes Tavan Rolgoi JSC has been extended by one month. As for the operations at Tavan tolgoi, its 51 percent will be in share for domestic companies and up to 49 percent will be allowed for international companies.

The previous bid for strategic investors for Tavan tolgoi ran in 2011, selecting six companies to jointly operate on site. However, the decision had been canceled by the National Security Council. Those six investors will be attending this bid with superior rights. Domestic companies will be competing for the statuses of strategic investors for the 51 percent of the deposit. The selected domestic and international entities are to jointly hold operations of “Erdenes Tavantolgoi” company, responding on the matters of infrastructure, mining and commercial activities.