Coal news and updates

Mongolia reports 26.6 percent increase in coal exports in 1st 10 months

(MENAFN) Mongolia has reported a significant increase in coal exports, with a total of 65.9 million tons shipped abroad in the first 10 months of 2024, according to data released by the Mongolian Customs General Administration on Monday. This represents a year-on-year rise of 26.6 percent compared to the same period in 2023, showcasing the country's growing coal trade despite global economic fluctuations.

Coal continues to be a vital export commodity for Mongolia, which is rich in mineral resources. During the January-October period, coal accounted for 55.3 percent of the country’s total exports, underlining its essential role in Mongolia’s economy. The growth in coal exports reflects both global demand and Mongolia’s expanding mining sector.

Initially, Mongolia had set a target to export at least 60 million tons of coal in 2024. However, due to the strong performance in the first part of the year, the country revised this goal upward to 75 million tons, signaling continued optimism about the coal market's future. The country's ability to meet this revised target will be closely watched in the coming months.

In 2023, Mongolia achieved a record coal export volume of 66.7 million tons, marking a new high for its coal industry. This success has set a new benchmark, and with the revised export forecast for 2024, Mongolia is positioning itself to continue to capitalize on the global demand for coal, particularly from its key trading partners in Asia.