"Erdenes TT" resumes coal export

Ulaanbaatar /MONTSAME/ The "Erdenes Tavan tolgoi" started its coal export on April 22. The Prime Minister N.Altanhuyag said Friday that this became possible as a result of implementation of a real activity to decrease expenses. Mongolia has aimed this year to export coal of 33 million tons but has done it with 3.4 million tons in the first three month. Such a delay took place due dispute over coal export to the Chinese "Chalko" company. By the agreement of July of 2011, the "Erdenes TT" had borrowed 350 million US dollars from Chalko in advance to repay it by coal. Currently, the company has a debt of USD 186 million. That time, the agreement stipulated that a price of one ton of coal is 70 US dollars when the world’s market price was USD 100-110. This price for the Mongolian sides became eventually 53.6. dollars, and this became a reason to stop the export. The government also says that some other steps may decrease the expenses and that talks with the Chalko are underway.