May 19, 2017 / 10:47 AM / in 8 months

BRIEF-Mongolia Energy updates on coal import restriction imposed by Xinjiang authorities

May 19 (Reuters) - Mongolia Energy Corp Ltd:

* Coal import restriction imposed by Xinjiang authorities will have negative impact on group

* Company has been given permission to use another customs border temporarily for two weeks from 16 May 2017 for raw coal import into Xinjiang

* Co still awaiting finalization of security device specifications from Xinjiang Takeshiken border authorities before it could commence installation work

* “Target is to import about 30,000 tonnes raw coking coal, subject to adjustment, into Xinjiang for sales”

* Import restriction on Xinjiang border has no effect on thermal coal supply; will continue to provide thermal coal to address local needs

* “We will continue to suspend overburden removal and coal excavation works on our mine site for time being to save our operation costs”

* “Our coal washing plant in Xinjiang is placed on a standby mode” Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below