Of immediate concern are plans to raise billions of dollars through a multinational offering of shares in a huge coal project, TavanTolgoi, also in South Gobi province.
The MacArthur overture comes just a week after Peabody was tentatively tapped by the Mongolian government as one of the companies to develop its TavanTolgoi coal deposit.
Only two large mines are currently being developed gold and copper in Oyu Tolgoi, coal in Tavan Tolgoi but there are numerous smaller mines throughout the country and 15 major deposits that are the source of serious discussions between global mining giants and the government, says Ganhuyag Chuluun Hutagt of TenGer, a bank holding company.