"Erdenes-Tavan Tolgoi" company established
Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet made Wednesday decisions to establish the "Erdenes-Tavan tolgoi" incorporated company and to allot necessary money from the "Erdenes MGL" LLC for forming the new company's authorized capital. The incorporated company will be an associated company of the "Erdenes MGL" LLC.
In accordance with the cabinet decision, ten per cent of total shares of the "Erdenes Tavan Tolgoi" company will be owned by Mongolian citizens. Another 10 per cent of the shares will be sold to domestic companies by nominal value, and up to 30 per cent will be traded through domestic and foreign stock exchanges.
The "Erdenes-Tavan Tolgoi" company's functions are to carry out exploration and exploitation on the strategically important Tavan tolgoi coal mine by holding special licenses, to centralize benefits of the Tavan tolgoi mine and transfer them to the state budget, and to collect investments for building extraction and processing factories based on the deposit and for developing infrastructure.
The company will also run major activities as to work out mining technical-economic justification and projects, have citizens and enterprisers hold the company's shares, collect capital for implementing projects and to sell the shares at international market.
B.Khuder
In accordance with the cabinet decision, ten per cent of total shares of the "Erdenes Tavan Tolgoi" company will be owned by Mongolian citizens. Another 10 per cent of the shares will be sold to domestic companies by nominal value, and up to 30 per cent will be traded through domestic and foreign stock exchanges.
The "Erdenes-Tavan Tolgoi" company's functions are to carry out exploration and exploitation on the strategically important Tavan tolgoi coal mine by holding special licenses, to centralize benefits of the Tavan tolgoi mine and transfer them to the state budget, and to collect investments for building extraction and processing factories based on the deposit and for developing infrastructure.
The company will also run major activities as to work out mining technical-economic justification and projects, have citizens and enterprisers hold the company's shares, collect capital for implementing projects and to sell the shares at international market.
B.Khuder
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