Russian steel producer Severstal's mining division, Severstal Resources, has quit the consortium of Russian companies, including energy-related company En+ Group and leading Russian asset management company Renova group, which has submitted a bid for the development of Mongolia's Tavan Tolgoi deposit, the largest undeveloped coking coal deposit in the world.
The consortium of En+ Group and Renova will continue their bid for the Tavan Tolgoi deposit exploration.
The Tavan Tolgoi mine, with estimated coking coal reserves of 6.5 billion metric tons, is located in the Ömnögovi province in the south of Mongolia.