The Government said on Thursday it has shortlisted three
bidders from a list of six vying to develop the Tavantolgoi coal mine and will
announce the winners within the next few days. It did not give the names
of the bidders who have been shortlisted. However, the Mongolian ambassador to
China said separately in a press conference in Beijing that the government
would consider the interests of its two neighbors, Russia and China, when
deciding the winners and that groups including Chinese and Russian firms were
still in the running.

ArcelorMittal, Vale,
Xstrata, US  Peabody  and a consortium of Chinese energy firm Shenhua and Japan”s Mitsui &
Co are among the six bidders originally shortlisted to develop
the mine, which is touted as one of the world”s largest untapped coking coal
deposits.  Another consortium, led by South Korean state body Korea
Resources and including POSCO, utility KEPCO, trading firm LG Corp,
Daewoo International, Russian Railways, and Japanese trading houses Itochu, Sumitomo, Marubeni and Sojitz, is also
in the running.  

The
shortlisting comes after 18 rounds of talks with all six bidders over issues
such as pre-payment, mine management and environmental concerns. 
Government officials had already said more than one winner may be picked to
develop the project.