“Erdenes-Tavantolgoi” JSC responded to the defamation and false information associated with the company

“Erdenes-Tavantolgoi” JSC will distribute dividends of MNT 1,080 trillion

 

Between March 24-29, 2020, 4,356 people were called hotline number 1800-1072, and 325 people came to the information center in person to receive information and advice. As a result, since the opening of the information center, a total of 29,054 citizens have come in person in duplicate numbers, and 69,745 citizens have received information and advice through the 1800-1072 hotline. Due to prevent spreading of the COVID-19 infection, we are providing an opportunity for our citizens to access information, counseling and opening accounts online, through social networks and  hotlines, without having to go outside. If you are a shareholder of “Erdenes-Tavantolgoi” JSC, please download the “Erdenes-Tavantolgoi” application on your mobile phone or call 1800-1072, or visit www.ett.mn or “1072 Stock Information Center” Facebook page. You can also get information by sending a message to 158989. In order to organize the distribution of dividends quickly and efficiently, we regularly meet and discuss with the government and other relevant organizations such as the Mongolian Central Securities Depository, Financial Regulatory Commission, State Bank, State Enterprise and Customs, Taxation and Financial Information Technology Center. We have also signed agreements with 30 brokerage companies that want to use the ETT application and open a stock account. The Mongolian Stock Exchange has released a list of companies that will distribute dividends from their 2019 profits. Out of a total of 29 companies, Mandal Insurance will pay MNT 2.5 billion and APU JSC MNT 76 billion in dividends, while Erdenes-Tavan Tolgoi JSC will distribute MNT 1,080 trillion in dividends. Of this, MNT 199.7 billion will be given to individuals and enterprises for their shares.

 

Activities of the Company and Mining are carried out normally

 

Despite the high level of preparedness for COVID-19 infection, mine operations are ongoing 24 hours a day. From the beginning of the year to March 29, more than 2.2 million tons of coal was extracted, 2.1 million tons of coal was loaded and almost 800,000 tons of coal was exported. Since the suspension and reopening of coal exports through the Gashuunsukhait port, 22.6 thousand tons of coal has been exported.

Deliberately spreading defamation and false information related to the company's activities

 

Following the report, Mr. Amarbayar.M, the head of the company's media and public relations division, commented on a number of issues, including the intentional dissemination of defamation and false information related to the company's operations.

 

For example, “Citizen S, who had previously participated in tender related to mine catering, disseminated false information through websites. This is because the tender was recently re-announced. The bidding period has not expired. At the same time, the deliberate dissemination of defamatory information about the evaluation committee's staff is considered to be an act of attempting to pressure and influence on the tender. That's why we appealed to the law enforcement agencies. 

 

A similar activity was made in the tender for the development of an economic feasibility study for the conveyor system. “Citizen Munkhbayar also gave interviews to newspapers and television and spread false information before the tender was completed and the results were announced. In fact the “CRMC” JSC was participated in the tender by Munkhbayar, submitted materials in Chinese when required to submit in an English and Mongolian. They also submitted an “Engineering Project Manager Certificate” of Zhu Jian Xin, a Chinese citizen who was supposed to be work as a project manager and validity period of his certificate was expired on January 31, 2013, so it was rejected by the Evaluation Committee on the grounds that it was invalid. It did not violate any law. 

 

In addition, information regarding “Erdenes-Tavantolgoi” JSC purchased a bus for 260 million MNT was spread on social media. He said, “The tender took place back in March 2018, during the previous administration. At that time, the unit which made the order estimated the price higher than the market price and announced a tender. However, the lowest bidder was selected. This tender was not accepted by the management of ETT JSC. So ETT appealed to the Anti-Corruption Agency, the Criminal Police and the court. The other party, Mon Transport Service, has filed a lawsuit claiming that once the tender is announced, it must fulfill its obligations and purchase the bus. So we sued. Unfortunately, the decision of the Supreme Court was on the other side. However, ETT does not accept it. Finally, “Erdenes-Tavantolgoi” JSC complies with the Law on Procurement of Goods, Works and Services with State and Local Funds in its procurement activities. We work closely with the Fair Competition and Consumer Agency, Public Procurement Agency, the Ministry of Finance, the National Audit Office, and other law enforcement agencies, and all procurement activities are conducted in accordance with the law and in a transparent manner. Regular inspections of the procurement process have been conducted with the Policy Coordination on State Property and other law enforcement agencies at our own request. Also Internationally renowned companies such as KPMG, Ernst & Young are audits. "As of today, I would like to responsibly inform you that no one from “Erdenes-Tavantolgoi” JSC is being investigated by any law enforcement agencies.