Negotiations on Tavan Tolgoi between the Government of Mongolia and the three-party consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of Japan, and Energy Resources LLC began on Monday.

Monday's meeting was attended by Minister of Mongolia M.Enkhsaikhan, Mining Minister R.Jigjid, Road and Transportation Minister N.Tumurkhuu, and Tavan Tolgoi working group members, CEO of Energy Resources LLC, G Battsengel, Deputy CEO of Energy Resources L.Oyunbat, Board Chairman of China Shenhua Overseas Development and Investment Co., Ltd Shao Junjie, and General Manager of Sumitomo Corporation’s Ulaanbaatar Office Hiroto Fujiwara.

During the negotiations, CEO of Erdenes Tavantolgoi Ya.Batsuuri gave a brief introduction  of current operations at the Tavan Tolgoi deposit and its financial situation. Executive Director of state-owned Mongolian Railway P.Batsaikhan spoke about progress on the Tavan Tolgoi-Gashuunsukhait railroad project, contract companies, its payment agreement, and other issues.

Deputy CEO of Energy Resources L.Oyunbat also introduced the contents and standards of the investment agreement for Tavan Tolgoi and other related information to working group members.

The consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of Japan, and Energy Resources LLC will invest and develop Taval Tolgoi as an investment project.

All investment  agreement, negotiation, and standard information is required to be transparent and undisputed, meeting bank and government requirements.