The Government of Mongolia has announced that the state-owned enterprise "Erdenes Tavantolgoi" (ETT) JSC will independently develop the strategic Borteeg coal deposit. The decision follows a cabinet ruling that none of the international investment proposals met the state's strict requirements. The government had previously issued an open call for international bids to invest in and develop the site, setting a submission deadline of March 23, 2026.
The bidding process drew significant interest, attracting proposals from seven domestic and foreign enterprises and consortiums. Applicants were required to submit advance payment proposals ranging from USD 500 million to USD 1 billion. Additionally, all bidders had to agree to a mandatory framework ensuring that Mongolia retains at least 51% of the project's economic benefits.
A specialized working group, led by First Deputy Prime Minister and Minister of Economy and Development J.Enkhbayar, evaluated the applications using a 1,000-point scoring system. Bidders were required to score above 700 points to qualify for final contract negotiations. Following initial evaluations and subsequent online consultations to refine the bids, three major Chinese corporations successfully advanced to the final stage: China Energy, Baowu Resources, and China Risun Group.
Despite advancing to the final stage, negotiations ultimately stalled. During the cabinet meeting, Deputy Prime Minister J.Enkhbayar confirmed that the final refined proposals from the shortlisted foreign firms failed to fully satisfy the government's criteria. J.Enkhbayar stated that while seven foreign and domestic enterprises originally submitted proposals meeting the initial 700-point threshold, their final offers did not meet specific state requirements, prompting the directive for Erdenes Tavantolgoi JSC to manage the deposit independently.
The cabinet concluded that Mongolia has successfully established sufficient domestic capacity in core mining operations, including stripping, exploration, drilling, and blasting. ETT will now partner with national subcontractors to spearhead development at Bortee, a move aimed at boosting the country's total coal exports while keeping operations entirely within the national framework.
The Borteeg deposit is a key component of the larger Tavantolgoi group, one of the world's largest untapped coking coal formations located in the Tsogttsetsii soum of Umnugovi province. The wider complex consists of six sections: Tavantolgoi, East and West Tsankhi, Ukhaa Khudag, Borteeg, Sereet, and Bayangol. The regional mining portfolio also includes the Olon-Ovoot gold deposit, located in the neighboring Mandal-Ovoo soum.
The Government of Mongolia has announced that the state-owned enterprise "Erdenes Tavantolgoi" (ETT) JSC will independently develop the strategic Borteeg coal deposit. The decision follows a cabinet ruling that none of the international investment proposals met the state's strict requirements. The government had previously issued an open call for international bids to invest in and develop the site, setting a submission deadline of March 23, 2026.
The bidding process drew significant interest, attracting proposals from seven domestic and foreign enterprises and consortiums. Applicants were required to submit advance payment proposals ranging from USD 500 million to USD 1 billion. Additionally, all bidders had to agree to a mandatory framework ensuring that Mongolia retains at least 51% of the project's economic benefits.
A specialized working group, led by First Deputy Prime Minister and Minister of Economy and Development J.Enkhbayar, evaluated the applications using a 1,000-point scoring system. Bidders were required to score above 700 points to qualify for final contract negotiations. Following initial evaluations and subsequent online consultations to refine the bids, three major Chinese corporations successfully advanced to the final stage: China Energy, Baowu Resources, and China Risun Group.
Despite advancing to the final stage, negotiations ultimately stalled. During the cabinet meeting, Deputy Prime Minister J.Enkhbayar confirmed that the final refined proposals from the shortlisted foreign firms failed to fully satisfy the government's criteria. J.Enkhbayar stated that while seven foreign and domestic enterprises originally submitted proposals meeting the initial 700-point threshold, their final offers did not meet specific state requirements, prompting the directive for Erdenes Tavantolgoi JSC to manage the deposit independently.
The cabinet concluded that Mongolia has successfully established sufficient domestic capacity in core mining operations, including stripping, exploration, drilling, and blasting. ETT will now partner with national subcontractors to spearhead development at Bortee, a move aimed at boosting the country's total coal exports while keeping operations entirely within the national framework.
The Borteeg deposit is a key component of the larger Tavantolgoi group, one of the world's largest untapped coking coal formations located in the Tsogttsetsii soum of Umnugovi province. The wider complex consists of six sections: Tavantolgoi, East and West Tsankhi, Ukhaa Khudag, Borteeg, Sereet, and Bayangol. The regional mining portfolio also includes the Olon-Ovoot gold deposit, located in the neighboring Mandal-Ovoo soum.