The consortium includes Energy Resources, a subsidiary of Mongolian Mining (MMC), and Japanese firm Sumitomo.
The partners have submitted the bid to the Mongolian government and the proposed ownership structure has not been disclosed, reported Reuters.
Although the details of the planned transaction were not disclosed, the news agency cited government’s earlier announcement that the Mongolian firm should have majority control of the team that wins the bid for the project.
Private equity firm Khan Investment Management director Saijarkh Narantuguldur said: "In terms of the 51-percent ownership for the Mongolian side, MMC is a clear winner."
The government’s latest international tender process to develop Tavan Tolgoi project comes after the previous efforts were failed in 2011.
The Tavan Tolgoi deposit is said to host about 7.5 billion tons of coking coal.
