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Mongolian parliament backs Tavan Tolgoi mine project www.news.mn
On Friday (29 June), the Mongolian State Great Khural (parliament) backed Tavan Tolgoi - the nation's largest coal mining project - which has reserves of 7.4 billion tonnes of high-grade coal. The Cabinet presented the project to the lawmakers last week.
According to the Finance Ministry, the Tavan Tolgoi coal mine project is expected to increase export revenue by USD 2.8 billion and to contribute from USD 400 to a billion in tax revenue. In addition, the Tavan Tolgoi mine project will create 5800 new jobs in the Mongolian Gobi Desert.
Tavan Tolgoi is Mongolia’s largest coal mining complex and is located in the South Gobi desert close to the border with China. Divided into six sections: Tsankhi, Ukhaa Khudag, Bor-tolgoi, Borteeg, and South-west and Eastern coalfields, the mining complex has been ranked the world’s most profitable and untapped coal deposit. It is said to be the second largest coal deposit in the world. Over the years the coal mine has often been hailed as a panacea for Mongolia’s economic problems along with cooper gold mine, Oyu Tolgoi.
Published Date:2018-07-02
