Daily Business News Mongolia

Prime Minister S.Bayar received Mr. Gregory Boyce, Director of the Board and CEO, Mr. Richard A. Navarre, Director for Commerce and Mr. Frederic Palmer, First Deputy President, the delegates from Peabody Energy Corporation, a leading coal group of the world, according to their own request.
Mr. Gregory Boyce expressed Peabody Energy’s interest in involvement in Tavan Tolgoi project and his confidence it is mutually beneficial to the interest of both sides, because Peabody Energy has solid and proven record and experience of developing huge coal projects with higher economy effects, uses the most up-to-date equipment, technology and management that ensures security in its highest level and is expert in implementing environmentally sound production. He stated that if it involved in the project, then many American firms and companies that are well known and eminent in law, finance and infrastructure would be interested in Mongolia. He also mentioned that not only coal will be excavated within the framework of Tavan Tolgoi project, but there will also be refinery and factory to produce side products.
Prime Minister S.Bayar expressed his thankfulness for that world class company is interested in Mongolia and noted the importance that Peabody’s experience, eminent technology and methodology is vital for us as well. Prime Minister S.Bayar also stated that a new coalition Government is established recently and its main focus will be on mining industry and its processing factories. “We are paying much attention on reforming legal environment in mining industry and setting our cooperation type and direction with investors” he continued.

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