Mongolian consortium to mine at West Tsankhi block

Oyundelger 2017-03-16 06:03

Mining

Erdenes Tavan Tolgoi has reported that geological exploration at the block has resumed again after a break of nearly two years.

Mongolian consortium to mine at West Tsankhi block. Erdenes Tavan Tolgoi has reported that geological exploration at the block has resumed again after a break of nearly two years. A consortium of three local companies has been selected as the main operators at the West Tsankhi mine. The total resources of the mine are estimated at around 4.5 million tons. Mongolia has been intermittently paying off its USD 350 million debts to China’s aluminium 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.