Mongolia To Create Digital Coal Exchange Amid Protests - Mining Minister

MOSCOW (UrduPoint News / Sputnik - 16th December, 2022) Mongolian mining companies will export coal through a digital exchange system, the country's Mining Minister Jambalyn Ganbaatar said on Thursday.

"The first discussion of the draft law on the mining products exchange took place at today's parliamentary session," Ganbaatar said, as quoted by the Mongolian portal montsame.mn.

The sale of coal through an electronic exchange will make all processes transparent and controlled, according to the minister.

These measures were taken amid protests over the coal theft case that has engulfed Mongolia, the minister noted.

Ganbaatar said that there are no questions from the buyer's side about the innovation, and the quality of coal is determined by accredited laboratories.

"There are no complaints from the Chinese side," the minister added.

Mass protests have been taking place in Mongolia for nearly two weeks over media reports about an embezzlement scheme linked to coal exports to China. According to various Mongolian media reports, the amounts stolen reach from $1.8 billion to $13 billion.

Beijing has reportedly executed the officials involved in the coal theft case and handed over information on Mongolian politicians that benefited from it to Ulaanbaatar. �