Mongolian Mining Expects Increased China Coal Demand

Bloomberg reported that Mongolian Mining (HSE:0975) is supporting the construction of a rail line that would ship more coking coal to China.

As quoted in the market news:

Mongolia, the world’s fastest growing economy, overtook Australia as China’s biggest coking coal supplier last year, exporting 20 million metric tons of the raw material used to make steel. MMC is building a 250 kilometer (155 mile) rail to add 30 million tons of export capacity direct to China.

Click here to read the full Bloomberg report.