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Mongolia to launch IPO for Erdenes TT www.news.mn
The Mongolian Cabinet has backed a decision to launch an IPO for 30 percent of Erdenes Tavan Tolgoi JSC on domestic and international stock exchanges. Furthermore, the Cabinet has obliged the Mining Ministry to commence railway projects between Tavan Tolgoi and Gashuun Sukhait, Tavan Tolgoi and Zuunbayan as well as Tavan Tolgoi and Khangi.
In 2017, Erdenes TT mined more than 10.1 million tons of coal and exported 8.4 million tons, amassing revenue of 1.1 trillion MNT. From this revenue, 243 billion MNT was contributed to the state budget.
Tavan Tolgoi is one of the world’s largest untapped coking and thermal coal deposits, located in the South Gobi Province in southern Mongolia. All of Tavan Tolgoi is owned by Erdenes MGL (a government-owned company) except for the Ukhaa Khudag section which is mined by the Mongolian Mining Corporation. Erdenes Tavan Tolgoi JSC (Erdenes TT), a subsidiary of Erdenes MGL, is managing the development of East Tsankhi, and the company is due to float on the Hong Kong, London and Ulaanbaatar stock markets in late 2012
Published Date:2018-06-21
