Mongolia’s Tavantolgoi coal, with WORLD MARKET as its DESTINATION, is ON ITS WAY
Yesterday, S.Enkhtuvshin took part in making history. He was the chief driver of the 40 other drivers who drove vehicles with Soyombo (Mongolian national symbol) on them, filled with the first batch of coal mined from Tavantolgoi. Their destination is Gashuun Sukhait border point then the Republic of China. The 4000 tons of coal that they transported will be the beginning of Tavantolgoi’s coal export; the world’s largest coal mine. This is a landmark in every Mongolian’s life as we all are shareholders. The price of the 536 shares that every citizen owns will depend on this coal transported by these drivers.
At the opening ceremony held in “Erdenes Tavantolgoi”, public company of Mongolia’s headquarters, Mineral, Recourses and Energy minister D.Zorigt and many important figures of the mining industry were present. It is planned to export 1.3 million tons of coal from the left side of Tavantolgoi, Tsankhi, this year alone. When the workers introduced the mine to journalists, we came across 60 thousand tons of coal that was stock and an additional 250 thousand tons which was prepared and ready to be transported. Apparently, its planned to increase the output to 15 million per year by 2015, by this time Mongolia will already have made its losses and will be receiving a profit. We can be proud of the fact that Mongolians have mined this coal by themselves. This year, our neighbours, China will buy the 1.3 million tons we export at a price of 70 dollars per ton. CEO of public mining company L.Enebish said “though this is a comparably low price, from next year we will supply according to world pricing standards” this year the net profit will be only, 11-13 dollars. When we start exporting coal mined from the lower layers the price will be higher.
Also, if the coal processing company, where construction work will begin this year starts to operate, the net profit will double. It is said that if each year we mine 15 million tons of coal, we will be able to go on for 112 years. Minister D.Zorigt expressed his strong views that the coals should be processed, so we can profit from the added value. Also, its planned to start trading the shares of Tavantolgoi on the international stock markets by March of next year. This event is centre of attention for many countries, as 7.5 billion tons of coal is stored at this mine. We will publish interviews with officials and more detailed reports about this event in our next issue.
At the opening ceremony held in “Erdenes Tavantolgoi”, public company of Mongolia’s headquarters, Mineral, Recourses and Energy minister D.Zorigt and many important figures of the mining industry were present. It is planned to export 1.3 million tons of coal from the left side of Tavantolgoi, Tsankhi, this year alone. When the workers introduced the mine to journalists, we came across 60 thousand tons of coal that was stock and an additional 250 thousand tons which was prepared and ready to be transported. Apparently, its planned to increase the output to 15 million per year by 2015, by this time Mongolia will already have made its losses and will be receiving a profit. We can be proud of the fact that Mongolians have mined this coal by themselves. This year, our neighbours, China will buy the 1.3 million tons we export at a price of 70 dollars per ton. CEO of public mining company L.Enebish said “though this is a comparably low price, from next year we will supply according to world pricing standards” this year the net profit will be only, 11-13 dollars. When we start exporting coal mined from the lower layers the price will be higher.
Also, if the coal processing company, where construction work will begin this year starts to operate, the net profit will double. It is said that if each year we mine 15 million tons of coal, we will be able to go on for 112 years. Minister D.Zorigt expressed his strong views that the coals should be processed, so we can profit from the added value. Also, its planned to start trading the shares of Tavantolgoi on the international stock markets by March of next year. This event is centre of attention for many countries, as 7.5 billion tons of coal is stored at this mine. We will publish interviews with officials and more detailed reports about this event in our next issue.
Comments
Post a Comment