Altan San Securities - Mongolia Investment - Power stations owe coal mines MNT30 billion

Power stations owe coal mines MNT30 billion

Some coal mines are about to close down because the power stations have not paid for their coal. According to T.Naran, director of the Coal Association, some MNT30 billion is outstanding on this account, despite promises by the Government that all dues will be cleared. “Coal mines are really in a difficult situation. They don’t get paid while the Government plans to build a new power station. It would be wiser to take care of the coal mines which feed the four power stations now,” he said. “The authorities should know that Mongolia may crash if the mines collapse,” says Naran.

Source: www.news.mn

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