MARKETS

Tavan Tolgoi's $US3B IPO plan

THE Mongolian government is reportedly seeking to raise $US3 billion by selling a stake in coal c...

Lauren Barrett
Tavan Tolgoi's $US3B IPO plan

According to reports from Bloomberg, the initial public offering for a stake in Erdenes Tavan Tolgoi could take place in London, Hong Kong and Ulaanbaatar.

Bloomberg reported the IPO could potentially raise between $2 and $3 billion, overtaking Mining Corporation’s $744 million initial share sale in Hong Kong, which took place in October last year.

Bloomberg said sources of the information did not want to be named because the information was private.

The sources reportedly told the news service Deutsche Bank AG and Goldman Sachs would govern the multi-billion dollar sale of the stake in the Mongolian company.

Erdenes Tavan Tolgoi is developing the eastern half of the Tavan Tolgoi tenement, which has the potential to produce 15 million tonnes annually for more than 30 years, enhancing Mongolia’s development as a major coking coal exporter to China.

In July the Mongolian government awarded Peabody Energy, Chinese coal giant Shenhua and a Russian-Mongolian consortium the rights to develop the project.

The first phase of the mine development will rise in stages to 30Mtpa.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production