Finance
Mnister S.Bayartsogt has said ownership of the entire Tavan Tolgoi deposit will
rest with Erdenes Tavan Tolgoi. It may choose to work by itself in a certain
part of the territory, or enter into a contract with a foreign or domestic
operator. In other parts, it will announce an open tender and invite
international companies to bid. The two may appear to be the same as far as the
method of working is concerned, but the difference lies in the economic aspects
of the agreements, such as advance payment different.

Asked
about the eisks in sale of bonds, Bayartsogt told The Mongolian Mining Journal that
“our market research should be thorough and the planning and timing perfect”.
Interest on bonds is calculated from the day they are sold. Therefore, the
projects to be financed by the bond issue should be fully ready beforehand, so
that the sales proceeds can be used immediately. Otherwise, the Government pays
interest on funds lying idle. “We are working on all this and I guess the end
of this year or the beginning of the next year will be the best time for a bond
issue,” he said.