coal-mine-export-to-chinaMongolia to develop mineral mining resources to advance the country’s economy, which can help people out of poverty. To attract investors and mining companies to explore mineral mining resources in territory of Mongolia territory, the government offered shares worth $ 2 billion.

Shares offered by the government of Mongolia to carry out the exploration operations coal mining reserves are estimated at 6.5 billion tons of coking coal. Location coal mine exploration offered at Tavan Tolgoi mines.

Mining companies had made offers, including: JP Morgan, Deutsche Bank, China Shenhua, Peabody, Severstal and BHP Billiton. Mining companies interested in coal mining exploration in the region Tavan Tolgoi, Mongolia.

Government of Mongolia will be announced to shareholders of mining exploration in the Tavan Tolgoi coal in 2011.

“We’ll try our best to conclude the selection by the end of this year,” Dr. Ariunsan Baldanjav, Mongolia’s vice-minister of Mineral Resouces and Energy, told reporters on the sidelines of the China Mining Conference in Tianjin.

Mongolia has hired JP Morgan and Deutsche Bank (to sell up to a 49 percent stake in the mine, which has drawn interest from China Shenhua, Peabody, Severstal and world No.1 miner BHP Billiton, among others.

Mongolia’s government, aiming use the country’s mineral wealth to pull its 3 million people out of poverty, has been undecided about whether to divide the deposit between bidders to satisfy multiple political allegiances, sources told Reuters previously.

China Shenhua — which told Reuters in early September that it was still pursuing Tavan Tolgoi — is a preferred bidder, resources investment bankers have said.

Successfully developing national resources assets such as Tavan Tolgoi is a political imperative for Mongolia’s new president, Tsakhiagiin Elbegdorj, who took power in May promising more benefits from the country’s mineral wealth.

The global financial crisis crushed the value of the country’s mineral exports as commodity prices plummeted, causing government revenues to plunge.

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