border review | 30 April 2012

Mongolian Mines and Investors

After much to and fro over the mining concesssion for Mongolia’s Tavan Tolgoi coal deposit, it may well be that none on the international bidders may success. Terence Edvards for Reuters:

Speaking at a regular meeting of leaders from Mongolia’s private sector on Monday, Graeme Hancock, the chief operating officer of Erdenes-Tavan Tolgoi, suggested that the Mongolian government would not be able to appease the diverse foreign investors hoping to invest in the project.

“In my view, this is a very difficult group to put together into a consortium,” said Hancock. “We’ve got a pretty good chance it will never happen.”

If that were the case, Erdenes-TT was likely to reassume control of the property and lead the western block of the project itself, he said.

For an anthropological view of Mongolian mines and geopolitics, listen to the keynote Uradyn Bulag delivered last month at our conference “The Art of Neighbouring”.