Origo and Trafigura form JV for Mongolian operations

8 November 2011 (Last Updated November 8th, 2011 18:30)

Origo Partners and Trafigura Beheer have formed a joint venture (JV) to invest in coal and iron ore operations in Mongolia.

Origo Partners and Trafigura Beheer have formed a joint venture (JV) to invest in coal and iron ore operations in Mongolia.

The JV, named Trafigura-Origo MGL, will be owned by Mongolian subsidiaries of Trafigura and Origo, and will combine Origo's transactional, geological and technical expertise with Trafigura's global experience in commodities production, trading and logistics.

The aim of the JV is to invest in already identified iron ore and coal exploration projects in Mongolia, targeting further high-grade deposits with the potential for significant export volumes.

Both the firms are also planning to expand the scope of the JV to other countries such as Kazakhstan and Russia, and to cover all commodities.