Mongolia National Security Council Rejected Tavan Tolgoi Plan -Source
16 Settembre 2011 - 10:57AM
Dow Jones News
Mongolia's National Security Council has rejected a tentative
investment agreement made in July between the government and
international bidders for the right to develop part of the massive
Tavan Tolgoi coal mine in Mongolia, a person close to the deal said
Friday.
Details haven't been provided, and bidders are trying to clarify
the decision by the council--which includes among its members
Mongolian President Tsakhia Elbegdorj--and discover whether there
are any opportunities to renegotiate the agreement, the person
said.
The rights for the coal mine have been hotly contested, as Tavan
Tolgoi contains some of the world's largest untapped coking coal
reserves.
Bidders included China's China Shenhua Energy Co. (1088.HK),
U.S. resource firm Peabody Energy Corp. (BTU) and several companies
from Japan, South Korea and Russia.
Elbegdorj previously said the deal was put up for review by the
National Security Council because it wasn't compliant with
Mongolian laws and regulations.
-By Mari Iwata, Dow Jones Newswires; 813-6269-2798;
mari.iwata@dowjones.com
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