Ulaanbaatar
Tavan Tolgoi mine development to be intensified
Politics
Ulaanbaatar /MONTSAME/ The Tavan Tolgoi deposit development and intensification project was discussed at the Cabinet meeting of June 20 and will be submitted to the Parliament. Minister of Mining and Heavy Industry D.Sumyabazar made press briefing regarding the issue.
The Government has decided to discuss the project urgently before the parliamentary spring session ends. This will restore foreign and domestic investors’ confidence and support many enterprises.
The issues regarding infrastructure including construction and renovation of railway, road and energy, water supply and renewal of the mine’s feasibility study are reflected in the project in order to export large amount of coal from Tavan Tolgoi deposit in the future. Moreover, construction of special purpose roads in routes of Tavantolgoi-Gashuunsukhait, Tavantolgoi-Zuunbayan, Tavantolgoi-Oyutolgoi-Khangi and railways in route Tavantolgoi-Gashuunsukhait, Tavantolgoi-Zuunbayan will immediately start.
In 2011, the Tavan Tolgoi deposit was estimated at USD 5.7 billion, with total reserves of 7.4 billion tons. “It needs to be re-valuated. Erdenes Tavan Tolgoi JSC’ governance and management also need to be improved prior to releasing the shares of the company on the stock market. The 7.4-billion-ton reserves of the deposit is expected to grow in the future. Therefore, it’s important to raise capital for geological exploration” noted the Minister.
The Government has decided to discuss the project urgently before the parliamentary spring session ends. This will restore foreign and domestic investors’ confidence and support many enterprises.
The issues regarding infrastructure including construction and renovation of railway, road and energy, water supply and renewal of the mine’s feasibility study are reflected in the project in order to export large amount of coal from Tavan Tolgoi deposit in the future. Moreover, construction of special purpose roads in routes of Tavantolgoi-Gashuunsukhait, Tavantolgoi-Zuunbayan, Tavantolgoi-Oyutolgoi-Khangi and railways in route Tavantolgoi-Gashuunsukhait, Tavantolgoi-Zuunbayan will immediately start.
In 2011, the Tavan Tolgoi deposit was estimated at USD 5.7 billion, with total reserves of 7.4 billion tons. “It needs to be re-valuated. Erdenes Tavan Tolgoi JSC’ governance and management also need to be improved prior to releasing the shares of the company on the stock market. The 7.4-billion-ton reserves of the deposit is expected to grow in the future. Therefore, it’s important to raise capital for geological exploration” noted the Minister.
B.Misheel
