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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	7/5/2011 8:20:19 AM
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Mongolia Selects Shenhua, Peabody, Russia to Develop Coking Coal Reserves China Shenhua Energy Co., Peabody Energy Corp. (BTU) and a Russian-Mongolian group were picked to develop Mongolia’s Tavan Tolgoi deposit, potentially the world’s largest untapped coking coal reserve. A Shenhua-led group will get a 40 percent share in the project, while Peabody will hold 24 percent and the Russian- Mongolian venture 36 percent, according to a statement dated yesterday on the Mongolian government website. The other bidders were Vale SA (VALE3), ArcelorMittal (MT) and Xstrata Plc. (XTA) bloomberg.com

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