‘Erdenes TT’ to sell coal for USD 59.3 per tonne www.news.mn
Erdenes Tavan Tolgoi (Erdenes TT) is to sell coal for USD 59.3 per tonne at the East Tsankhi block in first quarter of 2017. The pricing decision was made on the basis of the coal pricing index and the coal market price. In December, a Mongolian Government and Erdenes Tavan Tolgoi working group revised the agreement with TT JV Co to raise the average selling price for coal by 85% in December. The coal price will be same at the East Tsankhi block until the second quarter of 2017.
Erdenes TT plans to mine 1.1 million tonnes of coal at the West Tsankhi block, however, that is still some time off as exploration has not yet begun. The East and West Tsankh blocks will help to generate USD 100 million tax revenue in first half of 2017 and to pay off the loans to Chalco and TT JV Co.
Published Date:2017-01-10