Mongolia Business and Mongolian Daily Business News

Ivanhoe Mines, through its SouthGobi Energy Resources Ltd, wants to supply 1 percent of China’s (largest coal consumer country in the world) coal supply within 10 years, Chairman Robert Friedland said yesterday in an interview in Beijing according to Bloomberg. SouthGobi’s Ovoot Tolgoi mine, located 45 km north of the border with China is targeting sales of almost 15 million tons by 2015. According to Ivanhoe’s October presentation, third-quarter coal sales from Ovoot Tolgoi were forecast to rise to 450 thousand tons which is an increase of 17 percent. Ivanhoe Mines currently owns 80 percent of SouthGobi.

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