Korea to Make Joint Bid with Japanese and Russian Firms for Mongolia Coal Mine

Firms from Korea, Japan and Russia will reportedly make a joint bid in January for the rights to develop a large coal mine in Mongolia.
According to the Japanese daily Nihon Keizai Simbun, the firms include Korea Resources Corporation, Japan's Itochu Corporation, Sumitomo Corporation along with two trading firms as well as Russia's state-owned rail corporation.

The companies plan to transport coal from the mine by rail to Russia's east coast.
The paper said that rival companies from Japan and China are also expected to make a joint bid with the US coal company, Peabody Energy.
They would then be the second and only other group bidding for the mine.

Source:www.arirang.co.kr (Arirang, South Korean TV station)


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