Minister for Minerals and Energy
D. Zorigt has said after the parliamentary vote that no timetable has been set
for the share sales overseas or a preference made for where they should be
held. The government is still negotiating with overseas mining companies over
whether they will help develop Tavantolgoi on a contract basis, said Zorigt.
The government will report back to Parliament on the issue later this year, he
said. “We are now working to develop Tavantolgoi as fast as we can and hope to
go into production in one or two years.”

Even in the absence of specifics, “finally there is clarity in terms of the
government policy and the way to move forward,” says Alisher Ali Djumanov,
chief executive officer of Eurasia Capital Management, based in Beijing. “We would be
a buyer considering the strong long-term potential of this company and the coal
sector in Mongolia.”