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Mongolia borders the largest coal consuming nation in the world, with estimates suggesting that China's coal consumption will account for more than half of the world's total by the end of 2014, up from 46% as of the end of 2011. Mongolian coal exports have increased dramatically in recent years on soaring Chinese demand, growing 28% percent in 2011 to 21.3 million tonnes, with nearly all of it going across its southern border into China.
Since early 2006, Erdene has conducted coal-focused, regional scale, geological mapping programs across Mongolia, with the last four years focussed on southern and southwest Mongolia. Collectively, an area of over ten million hectares was covered by Erdene's exploration team within basins that are considered prospective for high quality thermal and metallurgical grade coal. Erdene's comprehensive review of coal opportunities in Mongolia has included over 250 site evaluations and the drill testing of multiple targets. In addition, Erdene has conducted comprehensive due diligence on numerous coal deposits and prospective licenses. As a result of this extensive review and evaluation program, Erdene has created one of the most comprehensive coal databases in Mongolia and has identified certain highly prospective areas and potential acquisition opportunities that will undergo further field evaluation in 2013.