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Wednesday, July 6, 2011

Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates

Proposal to Develop Tavan Tolgoi Supported by Government

By Elena Fehrbach

Apr. 15 – Ch. Saikhanbileg, Minister of the Cabinet of Mongolia met Francisco J. Sanchez, the Under Secretary for International Trade of the U.S. Department of Commerce to discuss economic and trade cooperation between 2 countries. During the meeting, the Minister noted that Mongolia is willing to widen the economic relationship between Mongolia and USA. One of the important steps taken by the Ministry recently is introduction of the amended Strategic Foreign Investment Law creating encouraging investment opportunities for private companies.

One of the proposals discussed during the meeting is the proposal to cooperate on development of Tavan Tolgoi coal mine made by privately owned US- based Peabody Energy Corporation. Peabody Energy is one of the major global coal mining companies having 28 coal projects in USA, Australia and Mongolia.

The Minister also focused on Mongolia’s initiative to collaborate with US companies in the field of development of shale oil in Mongolia.

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