Mongolian consortium to mine at West Tsankhi block

2017 оны 3 сарын 15

Erdenes Tavan Tolgoi has reported that geological exploration at the block have resumed again after a break of nearly two years. A consortium of Mongolian companies, ‘Olborlolt” LLC, "Khishig Arvin Industrial" LLC and "Mera" LLC have been selected as the main operators at the West Tsankhi mine. The total resources of this mine are estimated at around 4.5 million tons.

Mongolia has been intermittently paying off its USD 350 million debt to China’s aluminum company Chalco since 2011 in the form of deliveries of coal from the East Tsankhi mine. Now that coal prices are picking up and export demand is increasing, it will be easier for the country to pay back its debt.

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