Shareholders dispute of Erdenet Mining Corporation LLC and Mongolrostsvetment LLC comes to an end

​Supreme Court restores MCC's 49 percent stake of EMC​

Attempts to nationalize the Mongolian Copper Corporation’s shareholding in the Erdenet mine in March 2017 and again in January 2018 have been ruled illegal by the Administrative Court in Ulaanbaatar.

The members of the Consortium have agreed to dissolve the Consortium originally put in place in December 2016

Under the private sector’s management one-sided procurement businesses came to an end and just from equipment procurement MNT 15.1 bln was saved

Dr.Khurts Choijin has worked in sector of Geology and Mineralogy with high achievements and served as Minister of Geology and Mining, Member of Parliament.

On 7 December 2017, the Supreme court of Mongolia held the final hearing.

Mongolian National Chamber of Commerce and Industry held its annual ceremony, “Entrepreneur 2017”, and announced the business sector outperaformers of 2017. Mongolian Copper Corporation was awarded “BEST CORPORATE GOVERNANCE OF THE YEAR”. The company was appreciated for increasing efficiency and introducing best practices at EMC through its 49 percent ownership.

7 December 2017, the Supreme court heard the case and upheld the lower court’s judgment. Effectively, MCC shall be registered as the 49% shareholder of EMC

“This is the worst possible way to handle this matter............... You cannot just change the registry to take ownership. If there is the rule of law in Mongolia, this process will be invalidated in court.”

Today, we talked to Jay Liotta, the chairman of American Chamber of Commerce in Mongolia, about Mongolian economic situation, investors’ concerns, IMF, and Erdenet Mining Corporation.

The American Chamber of Commerce (AmCham) in Mongolia presented its 2016 Business Leadership Award to Mr. Da. Ganbold, a prominent economist and board member of Erdenet Mining Corporation.