Mongolia Seeking to Float Coking- Coal IPO in three Financial Centers
Joao Peixe
Friday, 02 September 2011
http://oilprice.com/Latest-Energy-News/World-News/Mongolia-Seeking-to-Float-Coking-Coal-IPO-in-Three-Financial-Centers.html
In East Tsankhi area of Mongolia has the largest amount of untouched Coking coal in the world. There is about 7.5 billion metric tons of coking coal in that deposit. The government is asking companies, to bid for the ability to take the coal out of the ground.
The government is going to develop the mine with a foreign partner. Like maybe Japan or Korea. The government is going to keep a share for itself, and sell this on three different stock exchanges in what is called an IPO (initial public offering)
This article is really interesting to me, because I first have never heard of Coking Coal until my dad explained to me what it is. Learning about Coking Coal and what Mongolia is doing to develop their country and to start using the resources in their land. I also think is was cool to learn about because my mom works for coal mines, and so now I have a better grasp of what she does.
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