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Bloomberg reported that Mongolia’s Erdenes Tavan Tolgoi LLC expects to resume coal exports to China next week after a three-month stand off.
Bloomberg reported that Mongolia’s Erdenes Tavan Tolgoi LLC expects to resume coal exports to China next week after a three-month stand off.
As quoted in the market report:
Exports to Chalco, China’s biggest producer of aluminum, stopped on Jan. 11 due to a lack of funds required to pay Altangovi, which provides warehousing services at the border with China. The chief executive officer of Erdenes TT, Yaichil Batsuuri, said his company had run into financial trouble and wanted to raise prices and cut shipments, changing the terms of the $250 million contract it signed in July 2011.