Mongolia’s government seems to be edging towards keeping its huge Tavan Tolgoi coal project under state control. A spokesman in Ulan Bator has told Reuters that of the two options available to the government the option of selling a 49% stake appears to be receding with Prime Minister Sükhbaataryn Batbold preferring to keep 100% in the hands of the government.
A number of multinational coal companies such as BHP Billiton, Peadbody and Shenhua all expressed an interest in bidding for the 49% stake in Tavan Tolgoi, one of the biggest undeveloped coal resources in the world with an estimated reserve of 6.4 billion tonnes.
Should the government retain its 100% stake it is likely to hire Australian contractor Leighton to develop the coal field.
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