Mongolia is estimated to have potential reserves of 125 billion metric tons and the current coal production is over 5 million metric tons. Currently, Mongolia’s coal production is approximately 5 million metric tons, which is mostly consumed by domestic power producers. Tavan Tolgoi is the second largest mining investment in Mongolia, following the Oyu Tolgoi copper mine.
Tavan Tolgoi is the second largest mining investment in Mongolia, following the Oyu Tolgoi copper mine. Since 1967, Tavan Tolgoi started its mining which is situated at South Gobi desert, from Ulaanbaatar it takes 540km to reach. The total coal resource of Tavan Tolgoi is 6.4ton billion high quality coking coal of which calories in its coal deposit is 7760-8120 kilocalorie/kilogram. Initial estimates have indicated Tavan Tolgoi will produce 30 million tons of coal annually for the next 30 years, most of which is used as high quality cooking coal. Mongolian government announced Tavan Tolgoi as the Strategically Important Mine. Tavan Tolgoi deposit contains over 5 billion metric tons of coking and hard coal. It is unique in Mongolia for its size and quality.
On March 21.2008, government took 93.6 percent of Tavan Tolgoi’s license from Energy Resources. About four percent of the total area will be retained by Energy Resources.” Although 4 percent share seems like a small portion, it is estimated to hold 400 million tons of coal reserve, of which 170 million tons is confirmed. Mining license of Tavan Tolgoi was transferred from “Energy Resource” LLC to “Erdenes MGL” LLC. This resolution was made on the basis of the fact that this deposit was included in the strategic deposit because of its exploration expenditure was provided by the state.
With its strategic location near Chinese boarder and massive amount of its coal reserve, Tavan Tolgoi is ideal company to supply raising energy demand of China.
The company has been selling public shares since March 06.1995 with the initial price of 100 MNT per 1 unit of stock. The company is offering 49% or 268 592 units, of its total issues open to the public.
Ticker symbol- TTL
Stock Code- 458
Total issues- 526 652
State-owned- 51.0% (268,593)
Tavan Tolgoi is the second largest mining investment in Mongolia, following the Oyu Tolgoi copper mine. Since 1967, Tavan Tolgoi started its mining which is situated at South Gobi desert, from Ulaanbaatar it takes 540km to reach. The total coal resource of Tavan Tolgoi is 6.4ton billion high quality coking coal of which calories in its coal deposit is 7760-8120 kilocalorie/kilogram. Initial estimates have indicated Tavan Tolgoi will produce 30 million tons of coal annually for the next 30 years, most of which is used as high quality cooking coal. Mongolian government announced Tavan Tolgoi as the Strategically Important Mine. Tavan Tolgoi deposit contains over 5 billion metric tons of coking and hard coal. It is unique in Mongolia for its size and quality.
On March 21.2008, government took 93.6 percent of Tavan Tolgoi’s license from Energy Resources. About four percent of the total area will be retained by Energy Resources.” Although 4 percent share seems like a small portion, it is estimated to hold 400 million tons of coal reserve, of which 170 million tons is confirmed. Mining license of Tavan Tolgoi was transferred from “Energy Resource” LLC to “Erdenes MGL” LLC. This resolution was made on the basis of the fact that this deposit was included in the strategic deposit because of its exploration expenditure was provided by the state.
With its strategic location near Chinese boarder and massive amount of its coal reserve, Tavan Tolgoi is ideal company to supply raising energy demand of China.
The company has been selling public shares since March 06.1995 with the initial price of 100 MNT per 1 unit of stock. The company is offering 49% or 268 592 units, of its total issues open to the public.
Ticker symbol- TTL
Stock Code- 458
Total issues- 526 652
State-owned- 51.0% (268,593)
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