The deadline for companies submitting their bids to
operate the Tavantolgoi deposit expired at 4 pm today. The names of the bidders
have not been revealed yet, and a preliminary selection will be announced on
September 24. The second stage of the final choice will begin thereafter. The
application fee for the first stage was fixed at USD8,000.

Among the conditions listed are experience, reputation,
last three years’ audited accounts etc. Many domestic companies are expected to
submit a bid, in competition with foreign big names. The tender document makes
no mention of sharing the deposit among national and foreign companies.

Nikkei Business
News has indicated that Mitsui of Japan and State-owned Shinhua of China will jointly
apply for selection. Among others widely expected to have applied, either
individually or as a consortium, are Vale from Brazil; Jindal Steel and Power
from India; a group of 11 companies from South Korea; a Russian consortium which
now includes Bazovii  and Renovo, after
Severstali withdrew; Peabody Energy; a Japanese consortium including Sumitomo, Sojits
and Marubeni, and Itochu: Exxtrata from Switzerland and Australia; the Russian
Railway Association; and the Erdos Chinglon Coal Group from China.

Several of them had applied earlier and had been asked to
hold talks with the Government. However, the Government then changed its policy
and the whole process of selection began afresh, allowing new applicants,
including domestic companies, to make their bid. It is not clear how a new
consortium like Mongol 999 will meet the condition of at least last three years’
experience or would submit audited accounts. All will be known on September 24.