Erdenes Tavan Tolgoi

MiningNo. 2 in Mongolia

Mongolia

Founded

n/a

Headquarters

Ulaanbaatar, Mongolia

Ticker

n/a

Sector

Mining

Stock performance

This company has no listed ticker in our data, so there is no price chart.

History

Erdenes Tavan Tolgoi (ETT) is the state-owned company that operates part of Tavan Tolgoi, one of the world's largest untapped coking-coal deposits, in the South Gobi. It completed a railway to the Chinese border at Gashuunsukhait in 2022, allowing it to sharply increase exports.

Business model

ETT mines coking coal, used in steelmaking, and sells it to Chinese buyers, increasingly through a commodity exchange set up to make sales more transparent.

Market position

ETT is Mongolia's largest coal exporter and its largest state-owned enterprise.

Country impact

Coal exports to China have become one of Mongolia's largest sources of foreign currency, and ETT's record shipments after the pandemic drove a strong economic recovery. The company has also been at the center of a high-profile corruption scandal over coal theft and smuggling revealed in 2022.