Mongolia’s government is planning to
launch an initial public offering for the Tavantolgoi coal mine and list it in
the first quarter of next year, the chief executive of Mongolia based
investment bank that advises the government on mining policies said Wednesday.

The government plans to list shares
of Tavantolgoi simultaneously in London, Hong Kong and Ulaanbaatar, but a
listing in the second quarter might be “more reasonable” goven global
macroeconomic uncertainties and the deposit’s valuation issues, Frontier
Securities CEO Masa Igata told Dow Jones Newswires in an interview.

Mr. Igata said questions over mine’s
as-yet-unbuilt railway infrastructure haven’t been resolved.

The mine produced 1 million metric
tons of coal last year and is expected to produce 3 million-4 million tons this
year. Production will likely rise to 7 million tons next year and 20 million
tons by 2015-2017, Mr. Igata said.

The Tavantolgoi coal mine in
Mongolia’s southern Gobi region has estimated reserves of as much as 7.5
billion tons of coal, including the world’s largest deposit of coking coal, a
steelmaking material.

Source: MarketWatch