Erdenes MGL

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Erdenes MGL, which was established in 2007, is a Mongolian government owned company to represent the government's interest in mining projects it has an interest in. [1]

An Australian government trade agency reports that Erdenes TT, "a daughter company of the government owned Erdenes MGL" has been formed to control the Tavan Tolgoi coal project. "Erdenes TT will maintain a 50 per cent stake in the project, 10 per cent of the shares will be issued to every citizen of Mongolia, 10 per cent will be listed on the MSE [Mongolian Stock Exchange] and 30 per cent open to foreign investment."[2]

Contact details

Website: http://www.erdenesmgl.mn/ (English language version does not seem to be working)

Articles and resources

References

  1. Erdennes MGL, "Erdennes MGL" LLC, United Nations Economic and Social Commission for Asia and the Pacific, Ulaanbaatar 2009, page 2.
  2. Australian Trade Commission, "Mongolian Mining Projects Report 2011", January 2011, page 15. (This report is not available online).

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