International Energy Network News: The suspense of the Tsan Tolgoi coal mine project west of the Tsankhi block has been renewed. Mongolia’s President Elbegdorj said on the 20th that “the president is unable to support the people because they are not supported” and stated that due to the importance attached to the investigation results, the plan will be reviewed.

On the recent July 4th, the Mongolian government issued a statement saying that the consortium led by China Shenhua [25.32-1.06%] Energy Co., Ltd. (601088.SH, 1088.HK, hereinafter referred to as China Apotheosis) won the above 40% equity in the block.

Kyodo News reported on the 21st that the Japanese Liberal Democratic Party’s “Japan-Mongolia Friendship Promotion Council of Parliament” (Wujibe Qinqin, who served as the Director-General of the Japanese Liberal Democratic Party in 2006) visited the Mongolian capital Ulaanbaatar on the 20th, and the country’s President Elbegdorj held talks. The Ministry of Military Affairs requested that Mongolia take care of Japanese companies during the retrial.

According to the previous government plan, Mitsui & Co., Ltd., the Chinese coal giant, has become the largest investor. However, the "unfair and non-transparent" accusation of the bidding process has spread internationally.

Japan’s Kyodo News reported that Elbegdorj said that due to the huge impact it will have on the world and East Asia, the time to finalize the plan is expected to be significantly delayed. The visit of the LDP delegation to Mongolia will continue until the 23rd. They visited the huge Oyu Tolgoi copper and gold mine on the 20th.

In a statement issued by the Mongolian government in July, according to the draft submitted to the Mongolian parliament on the 5th, a consortium formed by China Shenhua and Mitsui & Co., Ltd. of Japan will receive 40% of the shares, and a consortium led by Russian companies will hold 36% of the equity of the project. Peabody Energy Corp will hold the remaining 24% equity. The Mongolian parliament may make a final decision before the end of the spring session on July 11.

The Tabine Tolgoi coal mine has a project reserve of about 6 billion tons, of which the western Tsankhi block has 1.2 billion tons of coal resources, 65% of which is coking coal, and the annual production capacity can reach 15 million tons. It is estimated that it can be mined for more than 30 years. The project is about 270 kilometers from the Chinese border and is one of the only large-scale high-quality coking coal resources in the world adjacent to China.

Reuters report analysis said that the project will be crucial for activating the Mongolian economy. The initial investment may exceed 7 billion U.S. dollars. This will create billions of U.S. dollars worth of revenue for participating companies, and it will add tens of millions of dollars. Ton of coking coal supply.