SHENHUA TO IMPORT 30-50 MILLION TONS OF COKE FROM MONGOLIA

Ulaanbaatar /MONTSAME/ Chinese coal producer Shenhua Group Corp. Ltd. will import 30-50 million tons of coke from Mongolia per year in the future. It was published Thursday on menafn.com website. Deputy general manager with Shenhua Science and Technology Research Institute Zhang Guangjun disclosed at a forum December 4 that it would import this amount of coke from Mongolia. Available data shows that the nation imported a total of about 30 million tons of coke in the first half of this year and in line with industry observers, the import of Shenhua will deliver a strong impact on the domestic coke market. It has taken the group about a decade to gain the exploitation right of Mongolia-based Tavantolgoi coal mine, one of the biggest unexploited coal mines in the world. Information the China National Coal Association (CNCA) released on its website early November shows that it had signed a MoU with three Mongolian firms, namely ETT, ER and TT, on railway construction cooperation and on boosting coal trade. In line with some industry observers, this is a prelude to its success in gaining the exploitation right. Zhang reiterated that "its failure to gain the exploitation right had a close tie with foreign investment policies of Mongolian and so far, the government had even not reached a conclusion internally". It released new policies for foreign investments not long ago and the policies would make it easy for the group to gain the exploitation right.