ArcelorMittal , the world's largest steelmaker, Brazil's Vale and a Korea Resources consortium, are among six short-listed bidders to develop Mongolia's Tavan Tolgoi mine, the world's biggest untapped coking coal deposit, South Korea said. Swiss miner Xstrata , U.S. coal miner Peabody and Japan's Mitsui & Co consortium are the other three preferred bidders to develop the west Tsankhi block of the mine, Korea Resources said in a statement on Monday. It estimated a $7.3 billion initial investment to develop the Tsankhi block, which has 1.2 billion tonnes of coal reserves and can produce 15 million tonnes annually for 30 years.
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