Russian Korean and Japanese team up for Mongolian coal license bid

Interfax reported that Russian Railways and partners have formed a consortium to bid for the rights to the giant Tavan Tolgoi coal field in Mongolia.

An RZD source told Interfax that the consortium included Russia Siberian Coal and Energy Company a number of Korean firms led by Korean Resources Corporation and Japanese companies including Itochu and Sumitomo.

The consortium has applied to bid at a tender being conducted by the Mongolian government. The consortium would use a new railway to ship the coal to Russia's Far Eastern ports and onwards to the Asia-Pacific region.

RZD will be one of the project key investors, the source said.

SUEK told Interfax that it would be part of the consortium, but it declined to disclose any details ahead of the tender.

En+ has also made a new offer to the Mongolian government to participate in the Tavan Tolgoi project. The bid is just En+ without consortia.

(Sourced from Interfax)

Source:Interfax, Russian News Service