B.Enebish: Erdenes Tavantolgoi will export 1.3 million tons of coal this year

Q: Erdenes Tavantolgoi is about to start its very first sales. What is the expected figure of export?

B.Enebish: Yes, we are about to start sales. We are now able to export coals after removing the top layer of soils from the east tsankhi of Tavantolgoi. We are planning to export 1.3 million tons of coal this and we will increase our capacity to 3.5 million tons from next year. Erdenes Tavantolgoi will reach its maximum output in the year 2015 but by starting production this year means our operation is in stable condition. We get two different benefits by exporting to international countries. One is of course the financial benefit of sales and the other is it will help us to make IPO in international stock markets. To make IPO, our export and financial history is one of the important factors to be looked at.

Q: Erdenes Tavantolgoi signed agreement with “Chalco” which is the subsidiary company of Chinese state owned “Chinalco” and received USD 250 million. Will this amount of money be transferred to the state budget? B.Enebish: Erdenes Tavantolgoi has just started its sales and some initial costs are required for the operations therefore some of these amount will be spent the mining procedures. The rest of the amount will be transferred to the state budget which will then finance the Human Development Fund.

Comments

Popular posts from this blog