COAL PRICE OF ENERGY RESOURCE COMPANY UP BY 15 PERCENT

Ulaanbaatar /MONTSAME/ Mongolian Mining Corporation presented its 2018 semi-annual financial report to public. In the first half of 2018, the company has extracted a total of 4.3 million tons of coal from Ukhaa Khudag and Baruun Naran mines and of which 4 million tons was concentrated at home, producing 2.9 million tons of coal concentrates. 2.4 million tons of the coal concentrates was exported to China transporting through Gashuunsukhait border checkpoint. In the reporting period, the company sold 1.7 million tons of coking coal concentrate, 0.2 million tons of semi-soft coking coal concentrate, and 0.1 million energy coal. It also set the highest selling price of coking coal concentrate, bringing it at USD 146.1 on average, increasing the price by 15 percent compared with the previous year. Consequently, semi-annual selling revenue of the company reached over USD 270 million, showing 10 percent growth compared with the same period of the previous year. Energy Resource Company supplies its final products to Chinese industrial enterprises such as Baotou Steel Company, Shenhua Group’s Coking Plant in Inner Mongolia Autonomous Region. B.Batchimeg