EBRD loans $180 million for Mongolia coal washing plant

The European Bank for Reconstruction and Development said Tuesday it
agreed to a $180 million loan for the construction of the first coal washing
plant in Mongolia at Energy Resources' Ukhaa Khudag (UHG) coking coal mine in
South Gobi.

The new coal handling and preparation plant at the UHG mine will allow
Energy Resources to boost exports and increase competitiveness in both
international and domestic markets, a statement Tuesday from the London-based
bank said.

The EBRD said in March 2009 it was taking an equity stake in privately-
held Energy Resources through an investment of up to $30 million.

The Ukhaa Hudag deposit in southern Mongolia, about 200 km north of the
border with China, has a future expected production life of over 100 years,
the EBRD said at the time.

Energy Resources is a Mongolian consortium, comprising three domestic
--Hector Forster, hector_forster@platts.com



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