Private equity investment company Origo Partners and commodity trader Trafigura Beheer BV have formed a joint venture company to invest in Mongolian coal and iron ore opportunities.

The 50-50 joint venture will invest in already identified projects in the country. The two companies have also agreed to consider expanding the scope into other countries in the region, including Kazakhstan and Russia, and to possibly cover all commodities.

Luke Lesslie, Origo's head of Mongolia and mining investments, and Mikhail Zeldovich, Trafigura's head of Russia-CIS and Mongolia, will manage the joint venture together. Origo is an private equity investor and fund mangement company. The company has a wholly-owned subsididary in Ulaanbaatar which invests in Mongolian assets and investments. Trafigura has been involved in Mongolia's natural resources sector since 1997 and has a representative office in the capital.