Last month, protestors stormed the Mongolian capital to denounce corruption in the country’s coal trade. Now the government says it has a solution to put a stop to years of shady business deals.
Starting next month, Erdenes-Tavantolgoi JSC — the country’s largest state-owned coal miner — will cease signing direct sales contracts with buyers in neighbouring China, which last year purchased 84 percent of Mongolia’s total exports. Instead, the company’s coal will be auctioned on the Mongolian Stock Exchange.
