Reuters scoops competitors on hot Mongolian tender results for Tavan Tolgoi

Reuters scooped competition on July 4 with results of Mongolias tender for the much-coveted Tavan Tolgoi coal deposit — a key news the mining industry and contenders have been eagerly waiting for. Tapping government sources, Reuters reported that Mongolia had decided to award three groups with contracts to jointly develop the west Tsankhi of Tavan Tolgoi, and that U.S. miner Peabody Energy was among the winners along with a venture by Chinas Shenhua and a Russian consortium. Shares in Shenhua rallied to hit an intraday one-month high and closed up 3.2 percent in Hong Kong after the news. Competitors Bloomberg and Dow Jones cited Reuters in their stories.