Mongolia revives plan for billion-dollar coal mine IPO

Government yet to choose overseas venue for Tavan Tolgoi listing

20180628 Tavan Tolgoi coal mine.jpg

Tavan Tolgoi holds estimated reserves of 7.5 billion tons of coking coal.  (Photo by  Byamba-Ochir Byambadorj)

KHALIUN BAYARTSOGT, Contributing writer

ULAANBAATAR -- The Mongolian government has revived plans shelved several years ago for an international stock offering of the company that controls one of the world's largest coal mines, buoyed by recovering commodity prices.

The government's plan to list 30% of Erdenes Tavan Tolgoi through a combined domestic and overseas offering is now under debate in parliament and may be approved on Friday. The domestic listing is scheduled for September.

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