Mongol Prime Minister Reaffirms Japanese Interest in Tavantolgoi Project

Mongolian prime minister Sukhbaatar Batbold met with Minister of Economy, Trade and Industry Yukio Edano on Wednesday to discuss development project of major coking coal mine, Tavantolgoi. Mr. Batbold said the government will secure participation of Japanese companies for the project while the government excluded Japanese companies at selection in July 2011. The government apparently selects offshore partners and allocates the share in the project after general election in June.

Japanese and Mongolian governments agreed to start talk for economic partnership agreement. Mongolian government committed to improve investment conditions in mineral development. Mr. Edano said at the meeting Japan would contribute to Mongolian economy through environment preservation technology and MEIT provides the support.

Mr. Batbold said to Japanese prime minister Yoshihiko Noda Mongol will secure Japanese companies’ participation in Tavantolgoi project. METI expects Japanese trading firms could secure certain potion of interest in the project.

Tavantolgoi deposit has 6.4 billion tonnes of coal resource. Mongol government selected the partners including Mitsui & Co., Itochu Corporation, Sumitomo Corporation, Marubeni Corporation and Sojitz Corporation preliminary.