ULAN BATOR, Sept.16 (Xinhua) -- The National Security
Council of Mongolia has decided to revise the allotment of stake set in a
previously signed international investment agreement draft on development at an
open pit coal mine in Tavan Tolgoi, southern Mongolia, authorities said Friday.
Early in July,
the Mongolian government reached a tentative deal with international investors,
under which China's Shenhua Energy Company, U.S. Peabody Energy Corporation and
a Russian- Mongolian consortium would hold 40 percent, 24 percent and 36
percent of the stake for developing coal reserves in Tavan Tolgoi,
respectively.
Mongolian
President Tsakhia Elbegdorj told local media that the tentative investment
agreement regarding the international coal reserve development project at Tavan
Tolgoi was rejected by the National Security Council last week, claiming the
deal did not meet requirements of the National Security Council, which consists
of Mongolia's President, Speaker of the Parliament and the Prime Minister.
A special
group, led by First Deputy Prime Minister of Mongolia N. Altankhuyag, is tasked
with further study and negotiation with international investors over the coal
reserve development project. Enditem
Source:Xinhua News Agency
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