Erdenes Tavantolgoi makes up one third of coal export

Economy | Mining
2016-02-23 11:04:22

Ulaanbaatar /MONTSAME/ Erdenes Tavantolgoi exported 4.2 million tons of coal last year, which made up 29 percent of the total coal export of Mongolia. The company extracted 3.8 million tons from the western Tsankhi mine and the rest--from eastern mine. Total revenuw reached 114 million USD.

Erdenes Tavantolgoi has been operating at western Tsankhi since 2013. Operations have temporary closed due to the expiration of the early 2006 cooperation agreement with Mongol Uurkhaichid (Mongolian Miners) Partnership.

The company has been working to select a new tenor.

TT JV CO has been operating the eastern Tsankhi mine from 2011, and renewed the cooperation agreement at the end of 2015.

Since the beginning of operations, 14.4 million million tons of coal have been extracted from the two mines, mostly from the western one. In 2011, Erdenes Tavantolgoi compensated for Chalco debt by 300 thousand tons of coal extracted from the eastern mine.

Remaining debt totals to 120 million USD, Erdenes Tavantolgoi reports.