Banks to pitch for Mongolian mine privatization - says British paper

Jan 30 (Reuters) - Over 20 investment banks will next month submit written proposals for the privatisation of Mongolia's Tavan Tolgoi coal mines that could value it at up to $8 billion, The Independent on Sunday reported.

The newspaper said bankers from HSBC, Deutsche, Credit Suisse, Citi and Macquarie are among those who will present proposals to list the coal group in either Hong Kong, London or give it a dual listing.

It said presentations will be held between Feb. 10 and Feb. 15 in the Mongolian capital Ulan Bator, with six banks expected to win roles in the flotation, expected by the first half of next year.

Tavan Tolgoi, which could become one of the world's largest coal mines, is owned by Mongolian government entity Erdenes MGL.

Source:Reuters news service and Independent newspaper of UK



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