“We have seen a continual increase in capacity being allocated by customers to collect our coal. We are pleased to see our shipping rate reach a level of approximately 5.3 million mt of coal on an annualized basis so soon, which is on track to meet our targets,” said SouthGobi President and CEO Alexander Molyneux.
SouthGobi anticipates shipping rates to continue to increase through the remainder of the third quarter. SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.