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Mongolia’s biggest coal event coming in February

By B.KHASH-ERDENE

The fourth international Coal Mongolia conference will be held on February 20 and 21 at the SS Club.
Coal Mongolia has been expanding rapidly every year. The primary objectives of the event are to bring international investors into the Mongolian coal sector; to introduce the most advanced, environmentally friendly technologies in the coal mining sector; and to create mutually beneficial partnerships that will strengthen Mongolia’s competitiveness in the Asian region.
The conference offers unrivaled insight into Mongolia’s coal industry. The conference speakers include key officials in the coal sector, neighboring country representatives and coal companies in Mongolia.
Last year’s conference highlighted the need for rail transportation and coal refineries to advance Mongolia’s coal output and increase competitiveness. Mongolia’s neighbors, Russia and China, and its “third” neighbors Japan, Canada, and the USA declared their readiness to work with Mongolia in coal trade and development.
Main topics on the agenda for this year are government policy on coal mining and marketing, international partnership and trade, coal market outlooks and Mongolia’s competitiveness, energy and infrastructure, and investment projects and new technology.
Mongolia has inferred reserves of coal totaling 173.3 billion tons, of which 21.5 billion ton reserves are validated through prospecting and detailed exploration.
The most notable coalfields currently producing include the west and east tsankhi (blocks) of the TavanTolgoi deposit. With the start of production at west tsankhi in 2013, the mine reported an annual production of 1.9 mtpa and 1.1 mtpa in exports, as well as operating profits of 100 million USD in the reporting year. East tsankhi produced 5 mtpa, of which 820 thousand tons were exported.
Analysts predict that the aggregate production from both the west and east tsankhi can exceed 10 mtpa in 2014. At such levels of production, state-owned Erdenes Tavan Tolgoi JSC which manages the mine will be able to retire its debts incurred with Chalco, according to official statements from the company’s management.

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Posted by on Jan 26 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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