Source: http://platts.com/Products.aspx?xmlFile=internationalcoalreport.xml                           Date: 08 July, 2010

The European Bank for Reconstruction and Development said Tuesday it has agreed to a USD180 million loan for the construction of the first coal washing plant in Mongolia at Energy Resources' Ukhaa Khudag (UHG) coking coal mine in South Gobi. The new coal handling and preparation plant at the UHG mine will allow Energy Resources to boost exports and increase competitiveness in both international and domestic markets.

The EBRD said in March 2009 it was taking an equity stake in privately-held Energy Resources through an investment of up to USD30 million. The Ukhaa Hudag deposit in southern Mongolia, about 200 km north of the border with China, has an expected production life of over 100 years, the EBRD said at the time. Energy Resources is a privately-owned Mongolian consortium, comprising three domestic groups.