According to a report from Singapore's Lianhe Zaobao on February 18, Mongolia plans to increase its coal exports to China by nearly 20% this year as it seeks to strengthen energy cooperation with its neighbor.
Source: Reference News
According to a report from Singapore's Lianhe Zaobao on February 18, Mongolia plans to increase its coal exports to China by nearly 20% this year as it seeks to strengthen energy cooperation with its neighbor.
In an interview on February 17, Mongolian Prime Minister Oyun-Erdene announced that by 2025, the country's exports of coal for power generation and steelmaking would rise to 100 million tons.
On February 14, Mongolia and China signed an agreement to develop a cross-border railway link, which will boost Mongolia's transportation capacity by 30 million tons.
Oyun-Erdene's ultimate goal is to raise Mongolia's coal export capacity to China to 165 million tons, nearly double last year's total. He also expressed hopes to expand energy cooperation with China and other countries, including in areas such as green energy generation, hydrogen production, and natural gas transportation.
Mongolia currently supplies 60% of China's coking coal imports for steel production. Despite challenges in China's steel industry and a general slowdown in coal demand, Mongolia is well-positioned to maintain or even expand its market share, particularly as Russian coal supplies become increasingly costly.