The Russian railroad monopoly found Mongolia’s offer concerning the development of Tavan Tolgoi coal deposit unacceptable. Vladimir Yakunin (Russian Raylwasy, president) confirmed the decision.
"Their offer looked like this: Mongols will have 51 per cent, and 49 per cent will be owned by any willing parties bringing the money. The scheme seems to me unfeasible, so we told in our official letter", he says.