"ERDENES-TAVANTOLGOI" JSC WILL IMPLEMENT 20 MEGA PROJECTS IN THE NEXT YEARS

On October 10, 2020, a working group consisting of Deputy Prime Minister Sodbaatar Ya, Minister of Mining and Heavy Industry Yondon G, Minister of Energy Tavinbekh N have inspected the operation of the Gashuun Sukhait port and the 240 km Tavantolgoi-Gashuunsukhait railway. After the inspection, a working group visited “Erdenes-Tavantolgoi” camp and met with representatives of miners and executive team. 

 

CEO of “Erdenes-Tavantolgoi” JSC Gankhuyag B, introduced about implementing the A-6/20 program. The program includes successfully funding national development railway projects, Tavantolgoi tulsh LLC, an improved fuel plant to reduce emissions in Ulaanbaatar as well as recovered from losses, covered all debts and became profitable, revived 1,072 shares and paid dividends to every citizen for the first time and projects to be implemented in the coming years.

 

In the years to come, we will be able to recover from losses, cover all debts and become profitable, revive 1,072 shares, pay dividends to every citizen for the first time, build national railway projects, improve the Ulaanbaatar smokeless fuel plant, and finance the Tavan Tolgoi fuel company. The projects to be implemented are included in this program.

 

 

For example, 20 projects are planned to be completed in the next 3, 5 years, including essential industrial projects such as a coal washing and concentrating plant, water supply and conveyor systems, a workers' camp, a mine office, and the development of Erdenes city. It is also possible to reduce mining costs by having our own equipment and doing a certain percentage of our production. Zuunbayan Railway LLC, which will be in charge of the Tavan Tolgoi-Zuunbayan railway, has been established, and “Erdenes-Tavantolgoi”JSC will own its 66 percent as well as owning 30 percent of Tavantolgoi  power plant and will be raising the funds equal to those percentage. During this meeting Minister of Mining and heavy Industry Yondon G, noted that by approving the integrated surface plan of Tavantolgoi deposit at the Cabinet meeting that provides opportunities for public and private mines, roads and railways, energy and other industries operating in the deposit to operate in a unified and coordinated manner.

 

Deputy Prime Minister Sodbaatar Ya, emphasized that “Erdenes-Tavantolgoi” JSC has been very successful for the last three years and wished success to the mining community.