It is a busy time in Mongolia. Meaningful economic activities have begun on the Tavan Tolgoi deposit covering 68,000 hectares of territory in Umnugobi aimag. The state will own 100% of the deposit and two parts of it will be developed along different lines. Bids have been received from companies or consortia interested to be strategic investors on the western part, though the profit-sharing formula is yet to be disclosed, and, in a related but separate exercise, a foreign company will be hired to work as a mining operator on the eastern part. All proposals are being evaluated. We have already reported that three foreign entities are competing for selection as the mining operator, and now there are 15 major foreign and local competitors for the status of a strategic investor. These 15 comprise some 50 foreign and local companies.