Erdenes Mongol LLC to become National Wealth Fund

2022-06-08 15:50:11

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.”

Related news