Strategic Investors for Tavan Tolgoi Deposit Selected

he threeparty consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of Japan, and Energy Resource LLC of Mongolia was announced as the winner of the the tendering to elect investors to cooperate on operating the Tavan Tolgoi deposit, on December 22.

Full operation of the Tavan Tolgoi deposit will be transferred to the consortium, while the license of the deposit will remain wholly owned by the Mongolian government.

The working group in charge of carrying out the tender reported that negotiations to establish a strategic investment agreement with the selected investor will be conducted after the arrival of the new year. In addition to an investment agreement, four to five agreements including agreements on stability, advance fees and establishing railway and infrastructure will be established.

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