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Mongolia's coal exports in Q1 surge 15% after China Australia ban

Coal News - Published on Wed, 17 Apr 2019

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Reuters reported that Mongolia’s coal exports rose 15% YoY to 7.8 million tonnes in the Q1, with the country benefiting from customs delays impeding imports from Australia during the period. Landlocked Mongolia is heavily dependent on demand for coal and copper from China, its southern neighbour and the buyer of more than 90% of its exports. Mr Naranbaatar Lundeg, an economist and member of the Australian Institute of Mining and Metallurgy, said the problems faced importing coal from Australia had opened up opportunities for Mongolian suppliers. He said that “This might continue until May, due to the parliamentary elections in Australia.”

The country’s statistics office said Mongolia’s export earnings from coal over the first three months of the year reached USD 644 million, up 25% YoY

China has sharply reduced purchases of Australian coal after clearing times through China’s customs doubled to more than 40 days amid growing tensions between Beijing and Canberra over issues ranging from cyber security to Beijing’s influence in Pacific island nations.

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Posted By : Rabi Wangkhem on Wed, 17 Apr 2019
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