- Silver Elephant (ELEF) announced that an additional 6,600 tonnes of coal in rail shipments have arrived at Tianjin seaport in China
- The shipment is from its Ulaan Ovoo mine in Mongolia
- Tianjin is a major Chinese seaport and exposes Ulaan Ovoo coal to international seaborne coal pricing
- Silver Elephant is a premier silver mining and exploration company, with its flagship Pulacayo silver project in Bolivia
- Silver Elephant Mining Corp. (ELEF) is up 7.14 per cent, trading at C$0.45 per share at 2:56 pm ET
Silver Elephant (ELEF) announced that an additional 6,600 tonnes of coal in rail shipments have arrived at Tianjin seaport in China.
The shipment is from the company’s Ulaan Ovoo mine in Mongolia. Silver Elephant has exported a total of 9,766 tonnes (three rail shipments) of coal to China since the cross-border sales started on December 9, 2022.
Tianjin is a major Chinese seaport and exposes Ulaan Ovoo coal to international seaborne coal pricing.
John Lee, CEO of Silver Elephant, commented on the news.
“Bringing Ulaan Ovoo coal to Tianjin is a monumental achievement for the company. This means potentially broader market reach; and the indexing of Ulaan Ovoo coal sales price to international seaborne pricing with transparency.”
Silver Elephant holds 100 per cent of the rights to the Ulaan Ovoo mineral claims and mining licenses. The company and its Mongolian operating partner have agreed to share the proceeds from coal sales from stockpiled coal sales on a 50-50 basis until June 30, 2023.
Silver Elephant is a premier silver mining and exploration company with its flagship Pulacayo silver project in Bolivia. It also owns 100 per cent of Mega Thermal Coal Corp and 39 per cent of Oracle Commodity Holding Corp.
Silver Elephant Mining Corp. (ELEF) is up 7.14 per cent, trading at C$0.45 per share at 2:56 pm ET.
