Biggest coal event approaches

Ulaanbaatar /MONTSAME/ The fourth international Coal Mongolia conference is planned to run on February 20-21. The Coal Mongolia event has primary objectives such as 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. Offering unrivaled insight into Mongolia’s coal industry, the conference will be attended by key speakers including high officials from the coal sector, neighboring country representatives and coal companies in Mongolia. Last year’s conference highlighted need for rail transportation and coal refineries to advance Mongolia’s coal output and increase competitiveness. Neighboring Russia and China, together with the “third” neighbors Japan, Canada, and USA declared their readiness to work with Mongolia in coal trade and development. This year, main topics include government policies 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 coal reserves totaling 173.3 billion tons, of which 21.5 billion ton reserves are validated through prospecting and detailed exploration. The most notable operational coalfields in the nation include West and East Tsankhi (blocks) of TavanTolgoi deposit. Since commencing production at West Tsankhi in 2013, the mine reported an annual production of 1.9 million tons and 1.1 million ton in exports, with a profit of 100 million USD. East Tsankhi produced 5 million ton, and exported 820 thousand ton. Analysts predict that the aggregate production from both the West and East Tsankhi can exceed 10 million ton in 2014. Keeping same level of production, state-owned Erdenes Tavan Tolgoi JSC will be able to retire its debts incurred with Chalco, says the company management.