Mongolian Economy and Finance

An official said that the Mongolian government will start talks with an international consortium on giant coal project Tavan Tolgoi on January 5th 2015.

A group comprising Mongolia's Energy Resources, China Shenhua Energy and Sumitomo have won the right to develop one of Mongolia's largest metallurgical-coal deposits, beating a bid from US miner Peabody Energy.

A Consortium of China's Shenhua Energy, Japan's Sumitomo and Mongolia's Energy Resources has won the tender to develop the Tavan Tolgoi deposit in Mongolia.

A group comprising Energy Resources LLC, China Shenhua Energy Co. and Sumitomo Corp. (8053) won the right to develop one of Mongolia’s largest metallurgical-coal deposits, beating a bid from U.S. mining company Peabody Energy Corp.

Peabody Energy Corp. (BTU) and a group consisting of Energy Resources LLC (975) , China Shenhua Energy Co. (1088) , and Sumitomo Corp. (8053) are the two remaining bidders for a contract to develop Tavan Tolgoi, one of Mongolia’s largest coking coal deposits.

A group comprising Energy Resources LLC, China Shenhua Energy Co. and Sumitomo Corp. (8053) won the right to develop one of Mongolia’s largest metallurgical-coal deposits, beating a bid from U.S. mining company Peabody Energy Corp.

ENP Newswire - 25 August 2014

PERTH (miningweekly.com) – ASX-listed project house Macmahon Holdings on Wednesday reported it had suspended work at the Tavan Tolgoi coal mine, in Mongolia, owing to a disagreement with the client, Erdenes Tavan Tolgoi (ETT).

Operations at Mongolia’s Tavan Tolgoi coal mine have been suspended amid a disagreement between state-owned mine operator Erdenes Tavan Tolgoi JSC and contractor Macmahon Holdings Ltd. (MAH)

Erdenes Tavan Tolgoi, Mongolia’s largest state-owned coal miner, has trimmed its debt to a Chinese customer to $130 million from $350 million, and aims to pay the remaining amount due this year.

He who hesitates is lost, goes the saying, and the government of Mongolia might be finding that out the hard way.

A feasibility study for the Tavan Tolgoi Power Station mega project has been approved after it was discussed at a meeting of the Science and Technology Board at the Ministry of Energy of Mongolia.

Erdenes Tavan Tolgoi LLC (Erdenes TT) has granted a one-year contract to extract coal at the West Tsankhi block of Tavan Tolgoi coal mine to the “Mongolian Miners” partnership.

(Reuters) - Mongolia has lined up three local firms to mine the West Tsankhi block of the giant Tavan Tolgoi coal mine for a year, an executive at the state-owned mining company said on Friday, as the country aims to boost coal output.

A giant Mongolian coking coal mine has halted coal sales and delayed its planned public listing after it was forced to fund cash handouts to the electorate, a sign of growing troubles at the project that was supposed to be a flagship for Mongolian development .

Mongolian state run coal miner Erdenes Tavan Tolgoi is seeking a contractor to commence operations at its West Tsankhi coal mine located within Tavan Tolgoi basin in 2013.

Erdenes Tavan Tolgoi LLC will begin this year to mine Mongolia’s West Tsankhi coal area as part of the debt-laden company’s plan to ramp up output and pay off money owed to Aluminum Corp. of China Ltd.

May 7 (Reuters) - Mongolia's plan to develop the untapped western block of its massive Tavan Tolgoi coal mine will help raise cash from new customers to offset an exclusive but loss-making supply deal with China's Chalco, an official with the mine's developer said.

Erdenes Tavan Tolgoi LLC, Mongolia’s largest state-owned coal company, offered a one-year contract to develop a part of the nation’s biggest coalfield, aiming to revive interest among global mining companies.

Mongolia’s Erdenes Tavan Tolgoi has launched a tender for a one-year contract to mine the western Tsankhi block of the giant Tavan Tolgoi coal field, a top executive of the state-owned company said on Friday.