Mongolia Pushes Forward on Coal Deal

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BY ALISON TUDOR

Mongolian officials are sitting down with bankers in the coming days to discuss the multibillion-dollar sale of shares in the world's largest coking coal deposit, said people familiar with the matter.

Mongolia plans to sell about half of state-owned holding company Erdenes-Tavan Tolgoi Co., which controls the massive deposit, located in the South Gobi desert near China's northern border.

The initial public offering would value the holding company between $10 billion and $15 billion, said one of the people familiar with the matter.

The bankers meeting with Mongolian officials this weekend and early next week are hoping the complicated deal ...

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