Erdenes Tavan Tolgoi JSC's Coal Sales Surge, Adding $210 Million to Mongolia’s Foreign Exchange Reserves

On July 9, 2025, the government placed Erdenes Tavan Tolgoi JSC under special administration for 3 months, appointing a team to oversee operations. The focus areas are mining, transport, sales, and organizational improvements.

Key highlights:

• Coal sales via the exchange rose from 132.8k tons in June to 268.7k tons in July, doubling within one month.
• Hard coking coal prices at Gantsmod border surged from CNY 700 to CNY 1,000 per ton in early July.
• The company generated $210 million in the first 10 days of July–August, significantly contributing to foreign reserves.
• In H1 2025, 20 of 85 open e-auctions succeeded, selling 1.3 million tons. From July to August 11, 23 auctions sold 1.4 million tons—reflecting improved trading mechanisms.