Premier addresses "Coal Mongolia 2014" int'l forum

Ulaanbaatar /MONTSAME/ The Prime Minister of Mongolia N.Altankhuyag made opening remarks at the 4th "Coal Mongolia 2014" international conference commenced Thursday in Ulaanbaatar. The Premier underlined that coal is one of the important economic sector of Mongolia, which accounts for a one fourth of the national export, and said Mongolia intends to augment its coal export to 34 million tons this year, "in 2013 it stood at 18 million tons". "Big goals and successes are awaiting us. Next years, Mongolia will implement several big projects in the coal sector and they can absorb large investments," the Premier said. The he mentioned that Mongolia established two agreements with China--on coal processing and on coal export--during his visit to the country late 2013. Accordingly, Mongolia will export one billion tons of coal to China within 20 years, which will earn for Mongolia almost 50 billion UDS a year if judging by today's rate. Mr Altankhuyag also highlighted another project, on erecting a gas factory on brown coal deposit in Mongolia. It requires investments of 30 billion USD, by feasibility study, it can process 50 million tons of coal a year. A project on producing liquid fuel from coal has launched, the Premier said. All these projects are certain to improve our economics in many ways such as creating new sources of energy, developing of industries, increasing job places. The two-day with some 1,000 delegates from over ten countries is discussing many issues regarding the coal sphere opportunities and ways of solving problems. "Coal Mongolia" is an international conference and exhibition for coal investors. It has been expanding rapidly every year. The primary objective of this event is to bring international investors into the coal sector of Mongolia; to introduce the most advanced, environmentally friendly technologies in coal mining sector; to create a mutually beneficial partnership that will strengthen Mongolia’s competitiveness in Asian region.