Mongolia Is Reforming Its Coal Trade With China
The anti-corruption December demonstrations have created new opportunities for the mining industry in Mongolia to be reformed, particularly through the liberalization of the publicly owned Erdenes Tavan Tolgoi (ETT or simply TT) coal mine.
The regulators are now thinking about an electronic commodities trading exchange for TT that is driven by market forces and spot pricing in response to the demonstrators' demands to make the coal sector more transparent.
The first step, according to the mining minister who is pro-business, is to transition TT from annual long-term coal contracts to shorter index-linked contracts.
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