Ulaanbaatar
Erdenes Mongol LLC to become National Wealth Fund
Politics
Ulaanbaatar/MONTSAME/. At today’s regular Cabinet meeting, a
resolution on some measures to be taken to Erdenes Mongol LLC was approved.
According to the resolution, Erdenet Mining Corporation and
Mongolrostsvetmet state-owned enterprise will be affiliated to Erdenes Mongol
LLC. Also, Prime Minister L. Oyun-Erdene assigned the relevant officials to
reduce the total number of the board members of the company’s subsidiaries from
207 to 27.
Minister of Mining and Heavy Industry G. Yondon said, “The
Ministry of Mining and Heavy Industry drafted a Bill on National Wealth Fund
and presented it to the Government. The Government supported the Bill and
decided to submit it to the Parliament for consideration. According to the
Bill, Erdenes Mongol LLC will become the National Wealth Fund; thus the company’s
structure, executive management, the Board of Directors, and mission and strategy
of operations have been clearly specified in the Bill.”
