China Shenhua Energy Co., the nation’s biggest coal-mining company, said it’s looking to expand production through mergers and acquisitions and has been bidding to develop the Tavantolgoi deposit in
“Shenhua’s main focus, increasing production, will remain in China as assets there are cheaper to develop, although it’s also increasing its interest in countries like Australia and Mongolia,” said Anna Yu, an analyst at Taifook Securities Group Ltd. in Hong Kong.
China Shenhua has withdrawn from bids to develop the Tavantolgoi deposit,
“We have followed the project for seven years,” Ling said. “We have the edge and we are actively bidding for it.”