Mongolia ends $2 billion Tavan Tolgoi stake sale

- February 5th, 2010

It was reported that Mongolia’s government has cancelled the auction of an estimated $2 billion stake in one of the world’s largest untapped coal deposits, ending the hopes of global mining giants eager for a slice of the project.

It was reported that Mongolia’s government has cancelled the auction of an estimated $2 billion stake in one of the world’s largest untapped coal deposits, ending the hopes of global mining giants eager for a slice of the project.

The press release is quoted as saying:

Shortlisted bidders for the stake in Tavan Tolgoi — which holds estimated reserves of 6.5 billion tonnes of coking coal — included heavyweights .

Click here to access the entire press release

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