R.Seddorj: If more than 500 coal trucks are crossed through Gashuunsukhait port, coal export will be normal

Tavantolgoi JSC listed on Tier-I of MSE introduced its dividend distribution. R.Seddorj CEO of the company gave an interview on the matter.

Annual General Meeting of shareholders was held on April 29, 2020. The company decided to distribute dividend of MNT 43.2 billion or MNT 821 per share to its shareholders at the meeting of shareholders, which equaled with 90 percent of its net profit of 2019 as well as MNT 22 billion out of MNT 43.2 billion will be allocated to budget of Umnugobi province. Dividend amount of the company lowered by MNT 2 per share from previous year due to its net profit’s decrease.

Furthermore, shareholders of the company obliged to produce feasibility study for construction of coal concentration plant to the executives of the company. Currently the company has sold 556 thousand tons coal since the beginning of 2020 as well as more than 700 thousand tons coal has been a ready to be loaded in Tsagaan Khad port. Therefore, executives of the company said that they will export its coal in Tsagaan Khad port.

CEO of the company said, “If more than 500 trucks are exported coal through Gashuunsukhait port in per day, the coal export of Mongolia will be a normal. However, 160-170 coal trucks cross through the port in per day. Also, coal price decreased by USD 20 per ton compared with last autumn but there are no sharp changes for price of coal, moreover, we did not cancel our agreement of coal sales whereas we are considering number of coal trucks which are crossed through the port.”

Source: The Official Gazette