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SouthGobi Energy Resources achieves record coal sales

Wednesday, July 8th, 2009

Alexander Molyneux, President of SouthGobi Energy Resources Ltd., announce that a new monthly sales record of 231,566 tonnes of coal was set in June at the company’s Ovoot Tolgoi mine in southern Mongolia.
June coal sales record
June sales more than doubled the previous monthly record. Major factors contributing to the record were the signing of new customer contracts, mobilization by customers of larger truck fleets to transport Ovoot Tolgoi coal and continued enhancement of operations at the Shivee Khureen (Ceke) border crossing between Mongolia and China.
“The June sales success demonstrates the strength of the market in China for SouthGobi’s coal and confirms that the logistical capacity exists to move large tonnages across the border,” Mr. Molyneux said. “It’s particularly pleasing to see that with June’s contribution our total sales for the second quarter of 2009 are around three times greater than our sales for the first quarter – and we’re now focused on further growth.”
Round-the-clock production begins at Ovoot Tolgoi
With the increasing sales rate and a reduction in its coal inventory to less than 700,000 tonnes, SouthGobi has initiated a plan to utilize full mining capacity at Ovoot Tolgoi. Since July 1, 2009, the existing mining fleet has been operating 24 hours a day, seven days a week. In addition, SouthGobi expects to have its second mining fleet commissioned in October of this year. The company is targeting coal production of 1.1–1.3 million tonnes in the second half of this year.
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