TT train departs after 40 years of talking,
TT train departs after 40 years of talking, 30 per cent of erdenes-tavan tolgoi soe to mine tt will ipo-ed on mse And a foreign excahnge to raise capital, Foreign operator is to operate contract mine for specific duration And then national company is to be prepared to work on its own.
united session of Parliament on yesterday, July 7,2010.
The taskforce consists of five MPRP members and five DP members. MP Kh.Badamsuren has said that “Over 40 years it has been talked about putting Tavan tolgoi coal deposit into economic production. Yesterday Parliament and Government has resolved the issue in innovative manner to make this concrete business. The draft introduced by the Government is starting
one. As for market we can four options of Russia, China, Eastern Asia through their ports and European Union. Although Russia and China have a lot of coal it is not equal in every corner of their large territories.
Through new railroad that we approved – Dalanzadgad-Tavan tolgoi-Oyu tolgoi-Zuun bayan- Sainshand-Sukhbaatar-Choibalsan we will export products to Russia’s Vladivostok and further to Japanese and Korean market, the countries with huge market and great consumption.
Through PRC’s Tianjin we can export further also. We will not export raw coal, it will be washed and processed. Also deep processed and entered into cokechemistry plant.
Compared to Australia’s coal that is supplied to Japan and Korea, quality of our coal is great. From another side, in order to minimize transportation costs we will increase value-added and high value, reduce bulk. We will consider offering flexible products choice suited to particular market such as washed coal, coking concentrate and coke. MP D.Damba-Ochir has stated that
“Parliament has decided not to be split Tavan tolgoi in two as proposed by the Government, shares of subsidiary of Erdenes MGL company, “Erdenes-Tavan tolgoi” which is to own mining license for Tavan tolgoi will be state’s -50%, IPO on Mongolian Stock Exchange and foreign exchange -30% to raise
capital, national enterprises’s -10% in equal and same amount by nominal price, Mongolian citizens and people – 10% free-of-charge.
Qualified national enterprises should be registered before June 30,2010, operate business and paid taxes and have no tax debts.
It is planned for state stake is to be decreased in stages and for stakes of national companies and citizens to increase.
“Erdenes MGL can start mining immediately now and pay to state budget.
Foreign operator to be competitively selected independently by Erdenes MGL is to operate for specific duration and then national company is to be prepared to work on its own.”