|

Market

  • Shanxi province in Central China has 55 percent of the total coking coal reserves in the country and produces 40.74 percent of the country’s coking coal -- the raw material to produce coke – but even then it now looks set to become a major purchaser of Mongolian coking coal, as Shanxi’s coking industry is being expanded in a big way.
  • As noted by the International Energy Agency (IEA) coal supplies a third of all energy used worldwide and makes up 40% of electricity generation, as well as playing a crucial role in industries such as iron and steel.  Coal is also very important for Mongolia, as it is one of Mongolia’s major exports.
  • The National Statistical Office reports that foreign trade turnover at the end of July reached $5.9 billion, showing an YoY increase of 33.9% or $1.5 billion. In the same period, exports increased by 38.5% or $979 million to stand at $3.5 billion, while imports rose by 27.5% or $504 million and reached $2.3 billion. The foreign trade balance grew 67% YoY, and showed a surplus of $1.2 billion.
  • Figures revealed by the National Statistics Office show that foreign trade turnover in the first quarter of 2017 reached $2.76 billion, the highest amount for the first quarter in the past 5 years. Export revenue reached $1.3 billion, a 35% increase on a YoY basis, and also the highest first quarter earning ever, largely due to the fivefold increase in coal export earnings.
  • In 2010-2011, Mongolian economy had been hungry for investment. At that time we were excited about mega projects like Tavantolgoi, railway project, Sainshand industrial complex, all together were estimated for  MNT17 trillion and  we were hoping to raise money by issuing international bond and get loan as fast as we could.
  • Mongolia will ship 25,000 tons of coal to North Korea’s Rajin port this year as part of a trial project, the chairman of the Mongolian Railroad Authority has said.
  • Russia, with plans to quadruple its coal output levels by 2030, will begin building a new coal export terminal on its Pacific coast to increase its exports to Asia Pacific nations.
  • About a third of China’s iron ore mines have halted production and this could rise as high as 45 per cent by the end of the year if the price of the steelmaking raw material stays below $70 a tonne

  • Mongolia isn’t exactly what comes to mind when one thinks of East Asian or Pacific economic opportunities, yet for Russia, Mongolia is the key that it needs to unlock strategic relations with South Korea.
  • Rosneft has signed two 5-year contracts for oil products supplies with Magnai Trade and Shunkhlai, committing itself to supply more than one million tons of oil products worth more than $1 billion at current prices between June 2014 and May 2019.
| 1 2 3 4 | Next
Poll
Do you agree with increasing state participation in the Draft New Mining Law?
  • 1. Agree
  • 2. Disagree

LATEST

MINING CALENDAR

2012
1 month
Copyright © 2014 Mongolian Mining Journal