Reuters: Mongolia frets as giant coal mine launch looms

Mining coal from landlocked Mongolia’s largest and least populated province located in the Gobi Desert, and then shipping it abroad, was never going to be easy. Banks and mining firms have been drooling over the 7.5 billion tonne Tavan Tolgoi project, believed to be the world’s largest coking coal deposit and named after the “five hills” that rise from the empty plains of the south Gobi around 300 km (190 miles) from the Chinese border. But last month’s botched bidding process to develop the western block of the property has left potential investors scratching their heads and put a much-heralded initial public offering of as much as $15 billion for the mine’s eastern block next year in doubt. To read the full article, click here: Mongolia frets as giant coal mine launch looms

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