Source: Bloomberg                        Date: 21 June, 2011

Mongolia may share its Tavan Tolgoi coal mining project between a majority of the six bidders shortlisted by the government and ask them to work together, Prime Minister S. Batbold told Bloomberg Television in Beijing on June 17, concluding his three-day state visit to China. “There are going to be about three or four of the major ones to create one consortium,” he said, adding that the final decision is “very close”.

Mongolia is trying to seek a “balance of interests” in its relations with neighbors like Russia and China and Western countries, he said. “This balance has to be kept not by squeezing somebody, but increasing” the opportunities from cooperation, he said. “We would like to make this happen as soon as possible because the more quickly it can generate revenue the better will it be for the country,” Mr. Batbold said.