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Seeking to unseat Australia, Mongolia's giant coal mine plans $700 mln bond | Hellenic Shipping News Worldwide


Seeking to unseat Australia, Mongolia’s giant coal mine plans $700 mln bond
Mongolia’s giant Tavan Tolgoi coal mine is aiming to raise 2 trillion tugriks ($700 million) through a bond issue as it tries to build infrastructure needed to replace Australia as one of China’s top coal suppliers, the head of the project said.
Gankhuyag Battulga, chief executive of the state-owned Erdenes Tavan Tolgoi JSC, said Mongolia needs to invest in railways to take advantage of simmering tensions between Beijing and Canberra, which have reduced coal shipments to zero since December.
“The Chinese government introduced a strict limit on Australian coal and this provides Mongolian coal exporters a unique opportunity to boost market share,” he told Reuters, adding that market conditions should shift in favour of Mongolia. ....

South Korea , Australian Capital Territory , Tavan Tolgoi , Gankhuyag Battulga , Anand Turmurtogoo , David Stanway , Barbara Lewis , Erdenes Tavan Tolgoi , Oyu Tolgoi , Rio Tinto , Mongolian International Capital Corporation , தெற்கு கொரியா , ஆஸ்திரேலிய மூலதனம் பிரதேசம் , பார்பரா லெவிஸ் , ரியோ டின்டோ ,

Seeking to unseat Australia, Mongolia's giant coal mine plans $700 mln bond


First domestic bond tranche raised around $200 million
Foreign investors welcome to invest in second tranche in Q3
Project planning $3.4 billion in investment over 2021-2025
ULAANBAATAR, April 21 (Reuters) - Mongolia’s giant Tavan Tolgoi coal mine is aiming to raise 2 trillion tugriks ($700 million) through a bond issue as it tries to build infrastructure needed to replace Australia as one of China’s top coal suppliers, the head of the project said.
Gankhuyag Battulga, chief executive of the state-owned Erdenes Tavan Tolgoi JSC, said Mongolia needs to invest in railways to take advantage of simmering tensions between Beijing and Canberra, which have reduced coal shipments to zero since December. ....

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