Russian companies eye Mongolian coal deposit

Three Russian companies – investment funds Basic Element and Renova, and steel producer Severstal - have announced the establishment of a three-party consortium with a view to participating in the development of the Tavan coal deposit in Mongolia. The Tavan deposit, one of the world's largest underdeveloped coal deposits, is located in the South Gobi region of Mongolia. According to a press release from Basic Element, the consortium participants believe that the union of their potential and their experience in deposits developments will contribute to the success of the project.