Russian
Transport Minister Igor Levitin confirmed on Wednesday that the Russian
companies En+Group and Renova Group are interested in developing the
Tavantolgoi deposit, together with Russian Railways (RZhD). “We support
new suggestions from the consortium to the working group of the Mongolian
government on the integrated development of the deposit,” Levitin said in
a statement.

The
Mongolian government wants to privatize Erdenes-Tavantolgoi company, the
Tavantolgoi developer, by selling 30 percent to foreign investors, 10 percent
to households and a further 10 percent to Mongolian businessmen at a nominal
value. Half of the shares will stay with the government.

In
2009, the Mongolian government transferred 50 percent of Ulaanbaatar Railway
(UBR) shares to RZhD for a five-year trust management. UBR”s priority project
is the construction of a 1,100 kilometer railway link between Tavantolgoi and
the Russian border. Levitin said that the railroad would help transfer coal from
the deposit to Russia”s sea ports in the Far East.