Japan is the world’s largest importer, and is consequently one of the world’s largest economies. In recent years, Japan imports coking coal from leading exporters such as Australia, Canada, USA and Russia, and moreover from Mongolia and Mozambique. According to the latest statistics released by the Japan’s Ministry of Finance, 19,200 tons of coking coal concentrates was imported from Mongolia via Wakayama port in 2012.
The Mongolian supplier of the concentrate was Energy Resources LLC, which processed coking coal for the first time in Mongolia with the purpose of exporting more value added products. Although this amount was insignificant compared to over 20 mln tons of coal exported to China from Mongolia, this is a critical step in entering new markets for the nation’s minerals and creating more value added goods rather than a simple trade of unprocessed, raw materials. It is hoped that the new initiative will ensure that market channels for the mineral products are expanded and the value of the coking coal is increased in the long term future.