Coal at East Tsankhi block of Tavan Tolgoi to be sold for USD 59.3 per ton www.montsame.mn
Ulaanbaatar /MONTSAME/ Erdenes Tavan Tolgoi (Erdenes TT) has planned to sell a ton of coal for USD 59.3 at the East Tsankhi block of the Tavan Tolgoi deposits in the first quarter of 2017.
This decision was made on the basis of the coal pricing index and the coal market price.
Before this, the Mongolian government and Erdenes Tavan Tolgoi working group revised the agreement with TTJVCo- the operating company East Tsankhi coal mine to raise the average selling price for coal by 85 percent in December 2016. The selling price of coal is projected to remain the same at the East Tsankhi block until the second quarter of 2017.
Erdenes TT plans to extract 1.1 million tonnes of coal at the West Tsankhi block within the first two months of its operation. However, the coal sales of the block has still not yet begun.
It is expected that the East and West Tsankh blocks will help to generate USD 100 million tax revenue in the first half of 2017 and to pay off the loans to Chalco and TT JV Co.
Published Date:2017-01-11