Snipet from the Mongolian Mining Journel:Mongolia is widely...

Snipet from the Mongolian Mining Journel:

Mongolia is widely recognized as a major supplier of raw materials to the global market, particularly coking coal, copper, and cashmere. In fact, it can be said that these three sectors have firmly inscribed the name "Mongolia" onto the global value chain. Among them, coal deserves special attention. We are living in a time when we have reason to be grateful for our coal resources.

While it is true that coal's reputation has suffered in recent years, as it does not fall under the category of "green" energy, it remains undeniable that coal has been a key driver of Mongolia's economic growth. In 2010, the country celebrated when coal exports reached 16 million tons. In the following years, exports steadily rose toward 30 million tons, eventually approaching nearly 40 million tons - a level that, at the time, seemed likely to be maintained.

However, this expectation has now been completely overturned. Ambitious targets - discussions of coal exports reaching or potentially exceeding 100 million tons - are now being considered in concrete terms. Until recently, Mongolia's name barely appeared on the global map of coking coal exports. The very fact that exporting 100 million tons of coal has become a national objective signals that Mongolia is undeniably attracting global attention. In other words, the country has emerged as a significant player on the world stage.

Moreover, this expansion of Mongolia's coal sector may only be the beginning. In the coming years, not only is coal production expected to grow substantially, but large-scale coal-fired power plants and major industrial complexes are also anticipated to come online. It remains far too early to predict just how significant the economic returns from coal will ultimately be for Mongolia.

Mongolia's coal sector holds significant potential for advanced processing, including coal liquefaction and the production of synthetic fuels, and even the development of hydrogen. This indicates that policies and measures for the coal industry need to be developed with a very high level of precision and sophistication. These points relate primarily to thermal coal used for energy. However, the majority of Mongolia's export coal is coking coal. Unlike regular thermal coal, coking coal plays a crucial role in steelmaking. It can be considered a "rare mineral" in this sense. Recently, the Trump administration added coking coal to the list of minerals critical to the US economy and national security.

This designation is not particularly surprising. It simply underscores how vital coking coal is as a raw material. The world is living in the era of steel, and although we often speak of entering the Fourth Industrial Revolution and the age of information technology, it is impossible to imagine national development without steel products. Similarly, steel production today cannot be envisioned without coking coal.