THE REPORT MEETING WAS SUCCESSFULLY ORGANIZED AND HIGHLIGHTED 2019’S MOST OUTSTANDING WORKS
A “Report Meeting – 2019” of “Erdenes-Tavantolgoi” JSC took place in Ulaanbaatar little before the New Year and employees of the company gathered to evaluate the previous 9 years' work and discuss the future goals also rewarded some of the employees who led the others with their outstanding performance.
After Mr.Bayarsaikhan B., Chairman of the Board of Directors, and Mr.Gankhuyag B., Chief Executive Officer, opened the meeting, department and unit directors introduced their representative works.
Mr.Gankhuyag B., Chief Executive Officer of “Erdenes-Tavantolgoi” JSC, congratulated all workers and miners alike and expressed his gratitude to them for “becoming miners that keep every citizens’ hope in their hands and hearts”. Moreover, the Chief Executive Officer summarized the last year’s successes and mistakes and highlighted 9 works.
He continued “Over the past nine years, the company has encountered many obstacles. In 2016, the company’s debt hasn’t been cleared of even though the company had a profit for the first time. Also in 2016, we showed that we still can stand up. The company earned a total of 3.1 trillion MNT in 2018 and 2019 and in 2018, the company earned 1.99 trillion MNT and paid off all the external debts that had been created since 2010. As you know, in 2018 alone, the company accumulated 510 billion MNT in the state budget, exceeded the planned net profit of 335 billion MNT 2.1 fold by earning 720 billion MNT. Here are 9 things we highlight for the company in 2019.
These include:
1.We have been able to move the projects we have talked about for years. Our company has invested 110 million USD and started construction of railroad lines in the Tavantolgoi-Zuunbayan and Tavantolgoi-Gashuun sukhait directions. With the Tavantolgoi-Zuunbayan railroad, new exits will open in 4 directions, development processes will start along the new railroad and new jobs will be created, and it began a major work that will give support to the national economy.
2. In 2019, ”Erdenes Tavantolgoi” JSC planned to mine in Eastern and Western mines of the Tsankhi deposit, extract 18 million tons of coal and sell 14.95 million tons of it, earn 2.1 trillion MNT revenue, pay 522.3 billion MNT in state tax revenue, and earn 28.7 billion MNT of profit and the board members of the company approved the corresponding budget. We are confident that we will be able to fulfill our obligations by earning 1 billion USD in sales revenue in 2019. As of today, the company has exported 14.3 million tonnes of coal, paid 660 billion MNT for tax and has 1 trillion MNT of net profit. 16.1 million tonnes of coal were extracted in 2019, which is 5 million tonnes more than in the same period last year.
3. We introduced ISO 9001:2015 Quality Management Systems, ISO 45001:2018 Occupational Health and Safety Management Systems and ISO 14001:2015 Environmental Management Systems and became the first one to do so in Mongolia.
4. In 2019, with the establishment of “Erdenes Tavantolgoi Mining” LLC, “Tavantolgoi Tulsh” LLC and “Tavantolgoi Tumur zam” LLC, we, the Erdenes, became a big family with 7,000 members.
5. The company has always been supportive of social issues of its employees, and it increased the salary by total of 45% in 2018-2019.
6. We extracted 60 millionth ton of coal in October 2019 and performed 75 million bank cubic meters.
7. Successfully organized the “Citizen with Savings and Stocks'' campaign in 330 soums of 21 aimags and gave information to 50,000 people with a total of 1,000 training sessions.
8. Within social responsibility, we have invested 800 billion MNT this year. In particular, our supportive work to reduce air pollution in Ulaanbaatar received gratitude from the community.
9. Within a social responsibility, “Erdenes Tavantolgoi” JSC has been providing support to transport companies and drivers in 2019”.
At the end of his speech, Mr.Gankhuyag B. dedicated the motto “One for the all, all for the company” to all workers and wished them to create great things in the future.
