Ulaanbaatar
Shareholders of Erdenes-Tavantolgoi convene virtually
Economy
Ulaanbaatar /MONTSAME/ On April 24, a meeting of the shareholders of Erdenes-Tavantolgoi JSC took place virtually amid the nationwide heightened state of readiness against Covid-19.
At the virtual meeting, Erdenes-Tavantolgoi CEO B.Gankhuyag
introduced the company’s 2019 operational and financial reports and
ongoing and planned activities, projects, and programs. The shareholders also
approved the conclusion drawn by the Board of Directors on the 2019 operational
and financial reports of the company.
Also, the CEO introduced a decision of the Board of
Directors to distribute MNT 90 dividend per share out of the company’s 2019
profits starting from May 1 as well as the 2019 annual report of the Board.
Representatives of the Ministry of Mining and Heavy
industry and the Government Agency for Policy Coordination on State property, holders
of the company’s state-owned voting shares, other shareholders, independent
directors, and authorities of the company took part in the regular meeting.
Erdenes-Tavantolgoi earned around USD 1 billion sales income and MNT 1 trillion net profit in 2019, hence the decision to distribute dividends. Last year, the company also worked on the construction projects of Tavantolgoi-Zuunbayan and Tavantolgoi-Gashuunsukhait railroads and invested in the Tavan Tolgoi Tulsh LLC in phases as part of the efforts to reduce air pollution in Ulaanbaatar.
