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Thu, Dec. 18, 12:35 PM
- Peabody Energy (BTU +0.6%) is one of two remaining bidders for a contract to develop the Tavan Tolgoi coking coal deposit in Mongolia, which holds 7.4B tons of the coal used to make steel.
- Development of the mine has stalled since a botched tender in 2011 that saw the Mongolian government rescind an agreement that would have allowed BTU, China Shenhua and OAO Russian Railways to operate the mine.
- A unit of Mongolia Mining (OTCPK:MOGLF), which already mines coal at another site in the Tavan Tolgoi coal basin, leads a group making the other bid.
Wed, Dec. 3, 12:35 PM
- Mongolia has restarted bidding for development of the giant Tavan Tolgoi coal project as it tries to boost a flagging economy hit by falling commodity prices and a decline in foreign investment.
- A consortium comprising China Shenhua Energy (OTCPK:CUAEF), the world's largest coal producer by volume, Sumitomo Corp. and a subsidiary of Mongolian Mining (OTCPK:MOGLF) has submitted a bid; Peabody Energy (NYSE:BTU) and a local Mongolia mining firm also submitted separate bids
- Tavan Tolgoi holds ~7.5B metric tons of coking coal, but Mongolia's cash-strapped government has struggled to finance its development.
Dec. 24, 2012, 7:50 AMBullish bells may be ringing for Mongolian mining stocks, writes Jon Springer, thanks to the release from custody of SouthGobi Resources (SGQRF.PK) chief legal counsel Sarah Armstrong. Turquoise Hill (TRQ) - the majority owner of SouthGobi - has been battered since her arrest 2 months ago, and 2 SouthGobi execs were forced to flee the country just last week. | 3 Comments
Mar. 26, 2012, 11:16 AMSilk Road Management's Alisher Ali tips off Mongolia to be the fastest growing economy in the world this year, with GDP clicking along at a 20% annual growth rate. The untapped potential of the nation is also at the forefront of the heated boardroom battle between Ivanhoe Mines (IVN +0.1%) and Rio Tinto (RIO -0.2%). | 1 Comment
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Mongolian Mining Corporation is a high-quality coking coal producer and exporter in Mongolia. The Company owns and operates two open-pit coking coal mines - Ukhaa Khudag and Baruun Naran, both located in Southern Gobi province of Mongolia. MMCs operations have grown rapidly from a green-field... More
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