October 13, 2012

CEO of long-delayed giant Mongolian coal project quits | Reuters

CEO of long-delayed giant Mongolian coal project quits | Reuters: "Tavan Tolgoi CEO quits for "personal reasons"

* Criticised for project delays

* No progress made in financing huge coal project

ULAN BATOR, Oct 11 (Reuters) - The head of the state-owned company charged with developing Mongolia's long-delayed Tavan Tolgoi coal project in the South Gobi region resigned on Thursday, raising hopes that a new CEO may hasten the launch of the massive mine.

Enebish Baasangombo, chief executive of Erdenes-Tavan Tolgoi, the company responsible for bringing foreign investment into the mine and listing it overseas, quit because of personal reasons, he told Reuters."

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