Нүүрс
AN ECONOMY DEPENDENT ON COAL
Coal is the main source of our country’s export earnings. At the end of September, coal exports amounted to 47 million tons, and, by the end of the year, this figure may reach 52 million tons
B. Dulguun: Electronic coal trading is piloted successfully
The government has approved a temporary regulation for the open electronic trade of coal for export. This will be effective until the “Law on Mineral Commodity Exchange” comes into force, i.e. until the end of June of this year. During this period, the government has assigned the electronic trading of coal through the Mongolian Stock Exchange, and the Financial Regulatory Commission has been tasked with overseeing electronic trading.
Coal is our only fragile hope for the next year
The ruling party is arguing internally about “who will own the coal”. Anyone who understands politics realises that the winner of this “war” will not be Mongolia, but some government official or group with self-interest. That the winning side will continue to steal coal is as certain as ever. Xi Jinping, “leader” of the global trade war and chief author of the Wolf Warrior (Xi Defangs the Wolf Warrior) policy, will surely retain his seat while our leaders pursue petty interests by waging an internal “coal war”.
Creation of the ‘Mongolian Coal’ brand
The bill on the Sovereign Wealth Fund will be discussed at the autumn session of Parliament. As the government supports, its approval without much objection is expected. The main point is that the structure, management, executive management, board of directors, operating strategy, and direction of the state-owned company, Erdenes Mongolia , is clearly stated in the bill.
