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Global coal roundup: Mongolia's Tavan Tolgoi open to foreign investments

A roundup of international coal news from Sept. 3 to Sept. 10.

Mongolia

A minister in Mongolia said the country is ready to work with foreign investors on the Tavan Tolgoi deposit, one of the world's largest untapped coking and thermal coal deposits, with a total estimated reserve of 6.4 billion tons, Xinhua news agency reported Sept. 4. Mongolian Minister of Mining and Heavy Industry Dolgorsuren Sumiyabazar made the announcement during the 8th Coal Mongolia International Conference and Exhibition. The international conference is being held after Mongolia decided to sell up to 30% of the Tavan Tolgoi coal property through a partial IPO of state-owned Erdenes Tavan Tolgoi LLC, the report said.

China

China's demand for electricity has helped to boost the price of coal, now on track to surpass $100 per ton in Europe, the highest since 2013, Bloomberg News reported Sept. 3. China is the world's biggest coal user and demand from the region coupled with supply troubles across the Atlantic have pushed the price of the fossil fuel up since March, the report said.

China is looking to invest $90 million into coal production in South Africa as part of a deal between Baobab Mining & Exploration Pty. Ltd. and China Railway International Group made during President Cyril Ramaphosa's state visit in China, the City Press reported Sept. 3. The deal would go into the production of hard coking coal and thermal coal through a mining project along the Soutpansberg coalfields in Limpopo. The mining project would be the lone producer of hard coking coal in the country. Resources are estimated at about 344.8 million tonnes over a 46-year timeline, according to the report.

Vietnam

Vietnam shipped about 1.7 million tons of coal in the first eight months of 2018, with cargoes going mainly to Japan, South Korea and India, Xinhua News Agency reported Sept. 10, citing a statement released by Vietnam's Ministry of Industry and Trade. The country is aiming to produce more than 41.5 million tons of coal in 2018, up 9.2% from 2017's production, the report said, citing Vietnam National Coal - Mineral Industries Holding Corp. Ltd. Production is expected to increase to 86.4 million tons of coal in 2020 and 256 million tons in 2030, the report said.