Mongolian economy is highly dependent on mining and, in particular, coal industry is one of the major economic growth factors. In recent years, the need to conduct such study has been important because of the growing demand for coal due to the increase in coal consumption in developing economies. The study examined the possibility of increasing the economic potential of the country by identifying the long-term strategic planning of the coal sector and derived a solution for rapidly growing energy demand in neighboring countries and the East Asia region by exporting coal and electricity to foreign markets. Two options are considered in the study: refined coal export and coal-derived energy. The mathematical modeling was used to compare these alternatives.