Mongolia's coal exports surge by 35.5 pct in first 7 months

Mongolia has seen a significant increase in its coal exports during the first seven months of 2024, with a total of 46.1 million tons shipped abroad, marking a 35.5 percent rise compared to the same period 2023, data released by the Mongolian Customs General Administration showed Monday.

The mining sector has been a crucial component of Mongolia's economy, driven by the country's abundant natural resources. Coal, in particular, plays a pivotal role, accounting for 57.9 percent of Mongolia's total exports from January to July this year.

As a landlocked nation with a strategic focus on its mineral resources, Mongolia has set an ambitious target of exporting at least 60 million tons of coal by the end of this year. In 2023, the country exported 66.7 million tons, achieving a historic high.