A major Mongolian milestone was reached this week when the Tavan Tolgoi mine produced its first batch of coal -- 4,000 tons worth! It's on its way to China right now.
That's a small drop in the bucket compared to the 1.3 million China plans to buy at a price of $70 per ton. And with the mine expected to produce about 15 million tons a year by 2015, and 7.5 billion tons of coal available at this mine alone, it won't be long before this emerging economy, well, emerges!