MarketWatch reported that Mongolia's government is planning to launch an initial public offering for the Tavan Tolgoi coal mine and list it in the first quarter of next year.

Frontier Securities CEO Masa Igata told Dow Jones Newswires in an interview said that a listing in the second quarter might be more reasonable" given global macroeconomic uncertainties and the deposit's valuation issues.”

Mr. Igata said questions over the mine's as yet un built railway infrastructure haven't been resolved.

The government plans to list shares of Tavan Tolgoi simultaneously in London, Hong Kong and Ulaabaatar,

The mine produced 1 million tonnes of coal last year and is expected to produce 3 million tonnes to 4 million tons this year. Production will likely rise to 7 million tonnes next year and 20 million tonnes by 2015-2017.

The Tavan Tolgoi coal mine in Mongolia's southern Gobi region has estimated reserves of as much as 7.5 billion tonnes of coal, including the world's largest deposit of coking coal.

Source - MarketWatch

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