‘Best Management’ prize granted to Erdenes Tavan Tolgoi JSCEconomy | Mining
Ulaanbaatar/MONTSAME/. Erdenes Tavan Tolgoi JSC was named
the company with ‘Best Management’, during the Bloomberg Awards 2018, held on
May 13 at Shangri-La Hotel in Ulaanbaatar.
AND Global LLC and Erdenet Mining Enterprise were also candidates for the nomination ‘Best Management’.
During the past eight years, the company extracted over 40 million tons of coal. In 2018, Erdenes Tavantolgoi JSC earned sales income of MNT1.9 trillion, with the net profit of MNT807 billion. It intends to increase its output by two-fold and extract 70 million tons of coal in the next four years.
In preparations for making IPO, the company is taking numerous measures to improve its management. Presently, the total coal resource of the deposit has been identified to be 7.4 billion tons, of which 5.4 billion tons are coking coal.