Mongolia to Export Coal to the World Market, News.mn
The Ministry of Mineral Resources and Energy, Authority of Mineral Resources and Mongol Coal Association yesterday organized a meeting where the state-owned and private sectors representatives who operate in coal mining field exchanged views in the National Development and Innovation Committee Office about how to export coal through China. China is not only the biggest producer of coal but the biggest consumer. According to preliminary and detailed research, Mongolia has 22.3 billion of tons of coal reserve, 12.2 billion tons of which is energy coal and a billion tons of energy coal is coking and stone coal.
About 200 coal deposit basins are revealed in Mongolia and geological research and exploration have been done in 50 deposit basins. Coal geological reserves are accounted for 150 billion tons in Mongolia that is why we should cooperate with China to export coal to the world market, Mongolia is a land# # LOCKed country. The next consultative meeting with Chinese side will be organized in Tianjin of China because representatives want to see the port condition and activity.
The world annual coal consuming is 7.5 billion. Statistic figures shows 40% of annual consuming burned to produce energy while Mongolians burn 93% of total exploited coal to produce energy. Coal accounts for 28% of exported mineral resources and Mongolia’s main importer is China who buys 20 million tons of coal.
According to Mongol Coal Association data, copper production was the key of GDP. Coal will define Mongolia’s economic prospect in recent years. Specialists view coal would contribute definite percentage of GDP in Mongolia in the next years instead of copper that occupied 40% of mineral resources export. Coal production will reach 40 million tons in the near future and if economic entities exports coal through Tianjin port, Mongolia’s benefit could be raised.