Ulaanbaatar
Proposal, Conclusion on Determining the State Ownership Stakes in 'Achit Ikht', 'Erdenet Mining', and 'Zes Erdeniin Khuvi' LLCs to Be Discussed
Politics
Ulaanbaatar, December 25, 2025 /MONTSAME/. During its regular meeting, the Government of Mongolia decided to discuss the proposal and conclusion on determining the percentage and scope of state ownership in Achit Ikht LLC, Erdenet Mining LLC, and Zes Erdeniin Khuvi LLC.
In accordance with Order No. 72 of 2025 issued by the Prime Minister of Mongolia, a working group was established with the mandate to accelerate the implementation of the Law on the National Wealth Fund, to determine the state ownership percentage in legal entities holding licenses for strategically significant mineral deposits whose state ownership share has not yet been determined, to prepare proposals on whether payments of mineral resource royalties may replace such ownership, and to conduct negotiations on these matters. The working group presented its progress report at the Cabinet meeting.
The Government instructed the working group to intensify its efforts and submit for Cabinet deliberation the proposal and conclusion on determining the state ownership percentage in Achit Ikht LLC, Erdenet Mining LLC, and Zes Erdeniin Khuvi LLC, which are producers of cathode copper based on the oxidized ore derivative deposit of the Erdenet copper and molybdenum deposit.
In addition, Minister of Mongolia and Chief of the Cabinet Secretariat Byambatsogt Sandag, presented an update on the activities of another working group established by Order of Prime Minister Zandanshatar Gombojav in August of 2025. This working group is tasked with improving natural resource management by conducting a nationwide inventory, monitoring and evaluation of mineral licenses, their ownership and locations, reviewing the payment status of mineral resource royalties by license holders, drawing conclusions, and formulating proposals for further measures to be taken.
