Mongolia is Still Open to Foreign Investments

The President of Mongolia Tsakhia Elbegdorj said that his country had not yet decided whether to go alone without foreign investment or not. According to him, Mongolia still did not brush out the possibility of foreign investments in the western block of the Tavan Tolgoi coal mine, one of the giant coal mines of the country.

The possibility of foreign involvements in the development of Tavan Tolgoi took a step back since the July of the last year when the government decided not to hand over the rights of the mine to a group consisted of companies from China, Russia, and USA.

In April, it was known from an executive, who worked in the Tavan Tolgoi project, that the government might keep the charge on its own hand and would devote to develop the mine without help from outside.

However, it seems that the government has displaced from its earlier stand. Elbegdorj has confirmed that the door of negotiations is still open for the neighboring investors.