Fox News / Dow Jones Newswires: South Korea Bidding for at Least 10% Stake in Tavan Tolgoi Coal Project – KORES CEO

The South Korean companies involved in a consortium seeking a stake in Mongolia’s massive Tavan Tolgoi coal mine project want at least a 10% stake in the project, as state-run Korea Resources Corp. aims to expand the scope of its investments in overseas assets, the company’s chief executive said Friday. “South Korea wants a stake that enables [us] to have the right to participate in [project] management,” Kim Shin-jong, president and chief executive of Korea Resources, told reporters. In negotiations with Mongolia, the Russia-Japan-Korea consortium will also insist that a 36% stake is too small, Kim said. To read the full article, click hereSouth Korea Bidding for at Least 10% Stake in Tavan Tolgoi Coal Project – KORES CEO

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