Bidder selection for development of the massive Tavantolgoi coal deposit has been announced.

In Monday's TT tender working group meeting, financial proposals submitted by the Peabody Energy Corporation and a consortium of China's Shenhua Energy, Japan's Sumitomo Corporation, and Mongolia's Energy Resources LLC, which passed technical proposal approval requirements, were introduced.

The three-party consortium received the highest score and won the bid to develop the Tavan Tolgoi coking coal deposit. The winning bidder will invest in the deposit and its development but the ownership will remain under the Government of Mongolia.