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"Erdenes Tavantolgoi" JSC's Eight Projects Under Implementation www.montsame.mn
In October 2022, the Government of Mongolia established a special regime at "Erdenes Tavantolgoi" JSC and appointed its authorized representative. Minister of Mongolia, Chief Cabinet Secretary D. Amarbayasgalan has recently worked at the company. In 2022, "Erdenes Tavantolgoi" company earned a total of USD 1.1 billion, and with the appointment of the authorized representative, it has sold 11.5 million tons of coal from January 1 to June 23, 2023, earning USD 1.2 billion in sales income. In other words, due to proper management in half a year "Erdenes Tavantolgoi" JSC has netted more than it did in the entire previous year.
The Government set a goal of increasing the price of coal and concentrating revenue from coal transportation domestically. Chief Cabinet Secretary D. Amarbayasgalan underlined that the commencement of coal trading on the exchange affected the increase of coal price. Specifically, 1.2 million tons of coal were sold for USD 140.92 million in 20 trades, and the income increased by about USD 40.0 million. One ton of hard coking coal is sold at a minimum price of USD 131.6 and a maximum price of USD 182.1. They report that energy and weak coking coals are sold through e-trading without sorting out.
"Erdenes Tavantolgoi" JSC is currently implementing eight projects. D. Amarbayasgalan got acquainted with the progress of Borteeg dry beneficiation, coal beneficiation, coal loading logistics center, Tavantolgoi-Zunbayan railway, Zag water pipeline, and Tavantolgoi power plant projects.
The coal concentrator will be put into operation in 2024, as the construction work is underway according to the schedule. The plant will create an opportunity to earn additional USD 60-80 per ton of coal currently sold. Successful implementation of these projects will increase coal export and income, ensuring the country's economic growth. Therefore, he stated that the Government would support the projects implemented in cooperation with the private sector.
Published Date:2023-06-19
