ID :
159913
Thu, 02/10/2011 - 08:57
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http://m.oananews.org//node/159913
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REPORT ON EXPLOITATION OF TAVAN TOLGOI DEPOSIT
Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting was introduced to report on a process around the Tavan tolgoi (TT) coal deposit and preliminary selection for exploitation.
According to the 39th parliamentary resolution, the cabinet discussed issues of the exploitation of this deposit several times and has issued related resolutions and decisions. For the time being, a mining is ready to begin at the eastern side of the TT deposit called "Eastern Tsankh", and an export of coal may begin soon.
A preparation is underway to have Mongolia's people and entities own shares of the “Erdenes Tavan tolgoi” company that will carry out activities of the deposit's exploitation, and to trade shares at domestic and foreign capital markets.
The first phase is to complete soon of an international open tender when entities will be selected to invest some parts of the mineral deposit and develop a collaboration. After this, a selection will run looking for a consortium which is to cooperate with the participants in making agreements on transit transportation, contrary terms, usage of ports, upfront fee, sales of products and investment terms.
The cabinet pays a special attention to the exploitation of the TT because this year is the time to start its exploitation. The government will run big works to extract and export about two tons coal to foreign countries in the first turn, to erect a project financing, to issue shares of the “Erdenes Tavan tolgoi” company on foreign and domestic stock exchanges, and to construct factory of water supply and enrichment plant, camp of miners, a power station and auto roads.
The cabinet has decided to have parliament get au fait with this process.
B.Khuder
According to the 39th parliamentary resolution, the cabinet discussed issues of the exploitation of this deposit several times and has issued related resolutions and decisions. For the time being, a mining is ready to begin at the eastern side of the TT deposit called "Eastern Tsankh", and an export of coal may begin soon.
A preparation is underway to have Mongolia's people and entities own shares of the “Erdenes Tavan tolgoi” company that will carry out activities of the deposit's exploitation, and to trade shares at domestic and foreign capital markets.
The first phase is to complete soon of an international open tender when entities will be selected to invest some parts of the mineral deposit and develop a collaboration. After this, a selection will run looking for a consortium which is to cooperate with the participants in making agreements on transit transportation, contrary terms, usage of ports, upfront fee, sales of products and investment terms.
The cabinet pays a special attention to the exploitation of the TT because this year is the time to start its exploitation. The government will run big works to extract and export about two tons coal to foreign countries in the first turn, to erect a project financing, to issue shares of the “Erdenes Tavan tolgoi” company on foreign and domestic stock exchanges, and to construct factory of water supply and enrichment plant, camp of miners, a power station and auto roads.
The cabinet has decided to have parliament get au fait with this process.
B.Khuder
