Ulaanbaatar
Tavan tolgoi coal to be sold at USD59.3 to ‘Chalco’
Economy | MiningUlaanbaatar /MONTSAME/ Mongolian Government has now a debt of USD80 million unpaid from USD350 loan to the Aluminum Corporation of China Limited (Chalco).
65 per cent of all extracted coal from East Tsankhi block of Tavantolgoi mine has been paid back to “TTJVCO” company for its extraction work and 35 per cent has been supplied to Chalco for the loan repayment.
The Erdenes Tavantolgoi Company could not raise its coal price more than USD30, when coal price jumped to over USD200 in the world market due to the loan agreement. However the company has managed to agree with Chalco to supply coal from East Tsankhi block of Tavantolgoi at USD59.3 within the first quarter. That price is expected to be kept till the second quarter.
