Chalco to Buy Coking Coal from Tavan Tolgoi

[China Aluminium Network] Aluminium Corporation of China (Chalco) said on Wednesday that it plans to import 15 million tons coking coal annually from Mongolia’s Tavan Tolgoi mine in the next thre years to ease strained domestic supply.

Chalco signed the long-term purchasing contract with Mongolia’s  Erdenes MGL LLC in July.

Tavan Tolgoi’s coking coal reserve is about 1.5billion tons. It is one of the largest unexploited open coking coal mine in the world. This is the first export agreement reached by it.

China is the largest coking coal producer in the world whose annual output exceeds 400million tons. But it still can’t meet the growing demand of the steel industry. Analysts predicted that China would become the largest importing country for coking coal in 2015 which might lead to increase in price.

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