Mongolian miner ETT looks to boost coking coal auction sales

Mongolia's state-owned Erdenes Tavan Tolgoi JSC (ETT), the country's largest coal miner, is seeking to increase the share of auction-based sales in the near term as China's buying activities have picked up amid decent downstream demand.

According to data compiled by Mysteel, ETT offered a total of 2.82 million tonnes of coal for e-auction via the Mongolia Stock Exchange during April 1-22, of which 2.02 million tonnes were traded. Total sales revenue reached around $201 million, implying an average realized price of roughly $100/tonne. ETT has