Australia’s Macmahon Holdings says it has been awarded a five-year, USD 500-million contract for mining operations in the Eastern Tsankhi area of the Tavantolgoi deposit.
Macmahon will team up with the German company Operta GmbH on the project, which will begin in January and is expected to yield three million tons of coal in the first year. Eventually it is expected to yield 15 million tons a year.
Macmahon boss Nick Bowen calls the contract an “enormous opportunity.”
“Our operations in Mongolia pave the way for developing a long term business in the region and will see our world class mining expertise on show through this project,” Bowen said.