The opening of eight new border gates between Mongolia and China yesterday will “significantly increase” coal export capacity between the two nations, miner SouthGobi Resources Ltd. (SGQ) said in a statement today.
Coal was previously transported out of Mongolia through a single gate, which would allow empty trucks into Mongolia in the mornings, and loaded trucks into China in the afternoons, the company said in a Hong Kong stock exchange filing.
Alexander Molyneux, SouthGobi’s president and chief executive officer, said the new gates at the Shivee Khuren-Ceke border crossing eliminate a bottleneck, reducing costs for transport companies by allowing more-efficient use of trucks.
To contact Bloomberg News staff for this story: Liza Lin in Shanghai at firstname.lastname@example.org
To contact the editor responsible for this story: Joshua Fellman at email@example.com