Tavan Tolgoi

  • MONGOLIA - $3 billion Tavan Tolgoi IPO on hold

    Financial difficulties have forced Mongolian coal developer Erdenes Tavan Tolgoi (ETT) to put its $3 billion initial public offering (IPO) on hold for 2013. The company says it is looking to renegotiate a supply deal with Chinese state-owned Aluminium Corporation (Chalco) and will also accept a government fund of $350 million to help pay out the contract and repay its debts on the delayed 7.5 billion tonne development.  1

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