Mitsui & Co. is teaming up with Chinese coal producer Shenhua Group Corp. to bid for development rights to Mongolia’s Tavan Tolgoi coalfield, believed to be one of the most expansive in the world, The Nikkei reported. Brisk economic growth in emerging markets has fueled global demand for coal, setting off a race to secure sources. Mitsui announced September 14 it signed an agreement with Shenhua, the world’s largest coal producer, for a tie-up in mine development and coal trading. Their partnership will be centered on a joint bid for the coal deposit in Mongolia.
