B.Enebish, CEO of “Erdenes MGL” Company informed that deadline of a strategic investor bid of “Erdenes Tavantolgoi” was postponed until January 24, 2011. “Only after January 24 it is available to announce a short list of companies that sent their materials for the bid. The deadline was delayed according to request of these companies” he explained. As announced in December, 2010 the closing day of the bid was January 17. Winner of the bid will invest in West Tsankh deposit of 1.7 billion tons coal and will be fully responsible for exploration, production as well infrastructure development.
Unofficial source said 11 companies and consortiums, who applied for the strategic investor’s bid, canceled last year are not participating in the bid now. Two more bids, related to “Erdenes Tavantolgoi” are still open. One is for a contract explorer in East Tsankh deposit and it will be closed on January 27. Another bid was internationally announced for CEO of “Erdenes Tavantolgoi”. Final selection will be made by Board meeting of “Erdenes Tavanltolgoi”. But the meeting date is still not announced however it had to be held in the end of 2010.
Advisors to Sainshand project will be introduced to the GovernmentWinners of two bids for legal and technical advisors to Sainshand construction project were almost selected. As an official source said the winners will be announced to public after the Government meeting and they will sign on a contract within January.
“Hogan Lovells Lee and Lee” Company and “Liberty Partners” Consortium, both well known professionals are competitors for legal advisor to the project, while “Hatch”, “Bechtel”, “Worley Parsons” and “Flour INC” Corporations expressed their interest in the Technical Advisor bid. “Hogan Lovells Lee and Lee” and “Bechtel” might be winners, some unofficial sources said.