Three companies that mine coal in Mongolia’s Tavan Tolgoi basin have agreed to export 1 billion tons of the fuel to China’s Shenhua Group Corp. in the next 20 years, said the chief executive officer of one of the suppliers.
Mongolia plans to sell as much as $1 billion worth of Samurai bonds this year and offer foreign investors a new way into its largest coal project as Prime Minister Norovyn Altankhuyag seeks to revive growth.
Shenhua Group Corp. , China’s sole producer of fuels from coal, may more than quadruple output to 3 million metric tons annually by 2015 compared with this year to help meet demand from the world’s fastest-growing major economy.
At first glance, Daliuta in northern China appears to have a river running through it. A closer look reveals the stretch of water in the center is a pond, dammed at both ends. Beyond the barriers, the Wulanmulun’s bed is dry.
Shenhua Group Corp. , China Huaneng Group and TruEnergy Pty, a unit of CLP Holdings Ltd. , are among potential bidders for New South Wales’ A$8 billion ($7.2 billion) electricity privatization, the Australian Financial Review said.
China National Petroleum Corp. and China Petrochemical Corp., the nation’s biggest oil and gas producers, had their new refining and chemical projects suspended after failing to meet the government’s 2012 pollutant reduction targets.