Mongolia Coal Exports Surge, Budget Gains
- Amar Adiya
- 5 minutes ago
- 2 min read
China demand fattens Erdenes Tavan Tolgoi’s coffers.
Mongolia’s finances, in trouble just months ago, suddenly look flush. Exports from Erdenes Tavan Tolgoi (ETT), the state coal behemoth, have doubled since June, sending revenues soaring from $90 million to $210 million in barely six weeks.
For Prime Minister Zandanshatar, the rescue arrives just in time for bruising budget battles this fall. But the turnaround owes little to policy and everything to the market.
Coking coal prices at China’s Ganqimaodu crossing jumped 42% over the summer, fattening ETT’s balance sheet overnight. Officials readily admit they are cashing in on the rally.
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