ERDENES TAVAN TOLGOI TO EXPORT 11 MILLION TON COAL THIS YEAR

Ulaanbaatar /MONTSAME/ The coal sales of Erdenes Tavan Tolgoi (ETT) reached nearly one million ton this May, say its authorities. In the first five months of this year, ETT state-owned company sold more than two million ton of coal to China. At the Chinese port, a price of coal from the East Tsankhi section has been USD 57 per ton, while a price of coal from West Tsankhi has been lower, some USD 34-37 per ton during that time. According to the contract with Aluminum Corporation of China Limited (CHALCO), the coal prices will not see changes until this July. ETT has planned to export 11 million ton of coal this year. In February of 2014, ETT bought the road, linking Tavan Tolgoi to Gashuun Sukhait border port, at the construction cost of USD 90 million from Energy Resources, thus saving transport expenses. When Energy Resources used to own this road, ETT had to pay road use fee of USD 3.8-4.8.