Reuters: Mongolia open to foreign investments in Tavan Tolgoi

Mongolia is still open to foreign investments in the western block of the giant Tavan Tolgoi coal mine and has not yet decided on whether to go alone on developing its prized asset, President Tsakhia Elbegdorj said. Talks with foreign groups to develop Tavan Tolgoi have hit a snag since July last year after the government withdrew a decision to hand mining rights to a consortium comprising China’s Shenhua Group, U.S.-based Peabody and a Russian-Mongolian group headed by Russian Railways. An executive with the state-owned firm in charge of the Tavan Tolgoi project said in April that Mongolia might develop the mine on its own. “I think in balancing investors, it is essential that it is in line with policies and in line with our national security,” Elbegdorj told Reuters in an interview on Thursday. To read the full article, click hereMongolia open to foreign investments in Tavan Tolgoi

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