The Australian company Modun Resources, formerly known as TVN Corporation, says preliminary exploration has revealed a coal reserve of 489 million tons at the Nuurst project in Tuv aimag.

The company’s exploration license for the project covers 34.5 square km, of which the company says it has explored 16 percent.

Modun Resources is planning to explore the remaining area in 2012. The exploration area is located 30 km from a railway.