Group Including Sumitomo to Develop Mongolia Coal Mine
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A group comprising Energy Resources LLC, China Shenhua Energy Co. and Sumitomo Corp. won the right to develop one of Mongolia’s largest metallurgical-coal deposits, beating a bid from U.S. mining company Peabody Energy Corp.
Mongolia’s government will retain full ownership of the Tavan Tolgoi deposit, according to a statement posted yesterday on the website of the working group that oversaw the bidding..