Six Bidders Short-listed to Develop Huge Mongolian Operation

Reuters reported Erdenes MGL, the government body which controls a massive coking coal deposit in Mongolia, has narrowed the field to six bidders to develop the Tavan Tolgoi mine. The list includes: ArcelorMittal, Vale, Xstrata, Peabody Energy, a consortium of Chinese energy firm Shenhua and Japan’s Mitsui & Co, and a separate consortium of Japanese, South Korean and Russian firms. The firms are bidding to develop the west Tsankhi block of the mine, which has 1.2 billion metric tons of coal reserves.