Coal reserves at Baganuur reach 800 million tons

Economy | Mining
2015-10-06 16:38:30

Ulaanbaatar /MONTSAME/ The Ministry of Energy received Tuesday a project report on “Detailed Exploration and Reserve Estimation of Baganuur Coal Deposit”. The additional explorations have been conducted on the site, regarding the immediate need to prepare feasibility study for mine extension.

The updated estimation, piling up all data collected since the start of operations, found that Baganuur deposit’s coal reserve amounts to over 800 million tons. Peviously, the deposit had been explored in 1974-75 and in 1989. The detailed exploration was executed by Erdgeo LLC (Mongolian) and Norwest Company (US), as a basic data collection for a feasibility study, being developed in scope of Mining Infrastructure Investment Support Project (MINIS). The project is funded by World Bank’s easy-term credit.

The reserve estimation has been developed under A, B, C standards of Mongolia, and international JORC code, enabling thus the Baganuur Ltd. to compete on the international stock market.

A document on receiving the project reports was signed by the State Secretary at the Ministry of Energy D.Delgertsogt, the MINIS coordinator B.Enkhbaatar, and the director of Erdgeo LLC J.Dashkhorol.