“Mongolia Can be A Big Coal Player in the World”

A big international event on Mongolian coal industry is to take place in Ulaanbaatar on February 24 and 25, 2011.

The international conference of coal investors to Mongolia entitled “Coal Mongolia 2010” will seek to put Mongolian coal on the international market, to expand channels of coal sales internationally, to open up corridors of coal transport, attract investment onto coal exploration and extraction projects etc.

This important event is co-organized by the Mineral Resources Authority of Mongolia and mining portal Mining.mn.

“Coal Mongolia 2010 is the biggest event ever organized in Mongolia” said Minerals Economist L.Naranbaatar, who is President of Mining.mn. “One of reasons to host the event namely on coal is that the coal industry has replaced copper industry to become a key contributor to the country’s GDP according to official figures. And we need to improve the country’s investment attractiveness and legal framework” he noted.
“Coal Mongolia will internationally show that Mongolia is potential to be a big player in world’s coal market” he concluded.

As of November 2010, the volume of coal exploration reached to 20 million tons, the first time in history of Mongolia and by the end of year the volume is predicted to reach 24 million tons and produce the product of US$1 billion. In years to come, the coal production is likely to reach 40 million tons a year. In this case, coal export can make US$3 billion to the economy of Mongolia
source: The UB Post



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