Ulaanbaatar
Erdenet mine shows profit of MNT86.7 billion in first quarter
Economy | Mining
Ulaanbaatar /MONTSAME/ Erdenet Mining Corporation, one of the largest copper mine has worked with a profit of MNT86.7 billion, paying tax of MNT135.5 billion in the first quarter of this year. Yesterday, May 02, the Parliamentary Economic Standing Committee heard of the current situation and other issues related to the company. Some factors, including copper price in the world market and exchange rates have influenced to work in such profit, said the Company Director Kh.Badamsuren.
‘Mongolian Copper’ corporation filed a complaint with Chingeltei district administrative and civil court in connection with transferring 49 percent share of the company to state ownership. The court has suspended the decisions on changing the state registration certificate of the Erdenet Mining Corporation and releasing of members from the Board of Directors of the company.
“- We are waiting for a decision of the appellate court” said Chairman of the Agency for Policy Coordination on State Property Ts.Nyam-Osor. Following the court decisions, the current BoD has no power to hold meetings and make decisions.
‘Mongolian Copper’ corporation filed a complaint with Chingeltei district administrative and civil court in connection with transferring 49 percent share of the company to state ownership. The court has suspended the decisions on changing the state registration certificate of the Erdenet Mining Corporation and releasing of members from the Board of Directors of the company.
“- We are waiting for a decision of the appellate court” said Chairman of the Agency for Policy Coordination on State Property Ts.Nyam-Osor. Following the court decisions, the current BoD has no power to hold meetings and make decisions.
B.Ooluun
