Mongolian coal exports to reach 75 mnt in 2024: MOF

SXCoal: The Mongolian government is forecasting coal exports to reach approximately 75 million tonnes (mnt) by the end of 2024, a significant increase from the earlier target of 60 mnt, according to a senior finance official. "We expect to export around 75 mnt of coal by the end of the year based on this year's performance," said G. Zolboo, Director of the Finance and Budget Research Department at the Ministry of Finance, during a recent press briefing.

This projection represents a 7.7% increase compared to the record-high export of 69.61 mnt in 2023. As of 23 August, Mongolia had already exported 53 mnt of coal. The government's revenue projections have been strengthened by the improved profitability of mining companies, leading to higher tax revenues.

"By year-end, we anticipate that revenues could exceed the initially approved budget by approximately 3 trillion MNT," Zolboo added.

This has been written in accordance with an article exchange agreement between SXCoal and BigMint.