Mongolian Economy and Finance

 September 21 (Hellenic Shipping News) China is seen falling short of 50 million mt of metallurgical coal in 2021 amid rising domestic coking output capacity, sources said Sept. 15. Met coal is a key raw component used in producing steel. In 2021, the country is seen retiring 28.92 million mt of old coking output capacity, and adding 58.575 million mt of new coking production capacity, which translates to a net 29.655 million mt increase in coking capacity this year, latest data by China Securities International, or CSI, showed. Widening deficit China is expected to see a wide deficit for met coal supply in 2021, according to Shenzhen-based brokerage Guotai Junan Securities. This comes at a time when China is vigorously putting effort at dual control of energy consumption and energy intensity, capping production of its high energy consuming domestic steel sector. China has been requesting steel mills to curb their annual production in 2021 either at par, or below, 2020 levels; a mo...

Mongolia's pipeline of new coal projects and the potential development of Rio Tinto's Tavan Tolgoi coal project will see the country's overall coal output grow at an accelerated pace.

Demand for thermal coal is declining, a trend that appears to be “irreversible.”

Anglo American has signaled its intent to exit from coal production as the company aims to slim down to just 16 assets focused on its De Beers diamond, platinum group metals (PGMs) and copper businesses.

Key Takeaway: Coal Prices

A particular type of coal – called metallurgical coal or coking coal – is used in the process of manufacturing of steel.

Aspire Mining’s ( ASX:AKM ) shares are expected to trade high after its Ovoot Coking Coal Project in Mongolia received a boost after being recognised as a key user of a new rail transit corridor to Russia.

Viking Mines has issued a letter of intent to Ellehcor LLC for the provision of drilling services for its Berkh Uul coal project in northern Mongolia.

Aspire Mining is a step closer towards developing its Ovoot Coking Coal Project in Mongolia after Chinese President Mr Xi Jinping official visit to Ulaanbaatar last week upgraded ties between the two countries to a comprehensive strategic partnership.

Something doesn’t quite add up with China’s rising steel production, with falling coal output and imports so far this year.

Aspire Mining ( ASX:AKM ) is a step closer towards developing its Ovoot Coking Coal Project in Mongolia after Chinese President Xi Jinping’s official visit to Ulaanbaatar last week upgraded ties between the two countries to a comprehensive strategic partnership.

PERTH (miningweekly.com) – Junior coal developer Guildford Coal has executed its first sales contract for its Baruun Noyon Uul (BNU) coal mine, in Mongolia.

Prices for thermal and coking coal appear poised to diverge, with the power-plant fuel remaining mired in the doldrums and the steel-making ingredient posting modest gains.

Even though global coal production has swelled up, there have been no signs of production slowing down in major coal-exporting countries, stretching the already oversupplied market.

HONG KONG, July 29, SinoCast -- Mongolia Energy Corporation Limited (MEC; SEHK: 0276) has selected mining service provider to offering coal mining service for Khushuut Coal Mine with a term of three years and 35 days.

Aspire Mining ( ASX:AKM ) has demonstrated the quality of its Ovoot Coking Coal Project in Mongolia, reaching a non-binding Memorandum of Understanding to sell up to 250,000 tonnes of oxidised coal per annum to Zavkhan Power Station.

China’s slowdown has hit coal miners the hardest with the country, the top consumer of the fossil fuel, importing less than a year ago and dramatically far from the double-digit percentages from a decade ago.

- Aspire Mining Ltd ( ASX: AKM ) owns the Ovoot Coking Coal Project (Ovoot), and is also progressing the Northern Line Rail Line (NRL) in Mongolia.

Viking Mines – formerly Viking Ashanti – has signed a second future coal supply agreement with a Mongolian government power authority.

Viking Mines ( ASX:VKA ) has signed a second future coal supply agreement with a Mongolian Government power authority for its Berkh Uul Bituminous Coal Project in northern Mongolia.