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Citizens to own shares of Erdenet Mining Corporation www.montsame.mn
Ulaanbaatar /MONTSAME/ During its meeting on July 4, Tuesday, the Cabinet assigned corresponding Ministers and authorities to resolve the issue of taking the 49 percent of Erdenet Mining Corporation into government ownership.
Moreover, the Cabinet decided that every citizen will have ownership in the copper plant’s shares, and ordered corresponding Ministers to take required measures to realize the decision.
Head of Cabinet Secretariat J.Munkhbat said, “The objective reflected in the 2016-2020 action plan of the Cabinet regarding distribution of shares of strategic deposits to the Mongolian people is officially being realized”.
He continued, “Although Parliament issued a Resolution No. 23 on taking full ownership of Erdenet Mining Corporation, the owner of the 49 percent filed a lawsuit. A court decision was made in disfavor of the government decision. Parliament Speaker M.Enkhbold instructed the Cabinet to carry out the Parliament resolution No. 23. As such, we solved the issue with the decision to distribute shares of Erdenet Mining Corporation to every citizen”.
Published Date:2017-07-05
