ETT resumes coking coal exports to China
Erdenes Tavan Tolgoi (ETT) said it has resumed coking coal exports to the Aluminum Corp of China (Chalco) after it cut losses at its mine through cost-cutting measures.
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A spokeswoman told Steel First that the exports recommenced on Monday April 22.
ETT signed a $250 million offtake deal with Chalco in 2011 but in January 2013, it stopped deliveries saying prices were below its production costs.
The Mongolian coking coal miner wanted to renegotiate the terms of the deal with the Chinese conglomerate, but they have not come to any new agreement.
Mongolia’s coking coal exports to China fell to 0.84 million tonnes in March, from 2.28 million tonnes in December last year.