Russian billionaire Oleg Deripaska’s En+ Group Ltd. said it’s bidding for one of the world’s largest untapped steelmaking coal deposits at Mongolia’s Tavan Tolgoi.
En+ presented an offer to the Mongolian government last week to take part in developing the project, which has more than 6 billion metric tons of coal reserves, Andrei Petrushinin, a spokesman for En+ in Moscow, said by telephone today.
Vale SA and ArcelorMittal are among bidders for the field, Reuters reported today, citing a person it didn’t identify.
To contact the reporters on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.
Source:Bloomberg, news service
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