Mongolian Government decides to give each citizen mining shares

ULAN BATOR, April 1 (Moninfo) -- Mongolian Prime Minister Batbold Sukhbaatar said “during special cabinet meeting, government made important decision about distribution of mining shares to all citizens which is important part of distributing mineral wealth to all citizens in fair and equal way”.

According to report of press service of Mongolian government distributed Thursday, Government decided to give each Mongolian citizen 536 shares of state owned “Erdenes Tavan Tolgoi” mining company which is in charge of the giant coking coal deposit “ Tavan Tolgoi” in southern Gobi desert of Mongolia.

According to the Mongolian statistical data, Mongolian population stands at 2 million 796 thousand 341 people. All people born before March 31, 2011 will be entitled to free ownership of the shares. 10% of the mining company equals 1.5 billion shares.Altankhuyag Norov, senior deputy prime minister said “ price of the shares will be clear when shares of the mine will be sold in international stock markets. Actual share price will be set after coal production and export normalizes, road and railroad,power, water supply solution is made clear and work on coal processing plant start. Until then, citizens can not sell their shares.”

Batbold said “ development of Tavan Tolgoi mine will be open and transparent. Government will inform the public about progress of the development on monthly and quarterly basis.Government will work to improve citizens’ knowledge and information about stock market and shares. Which is important aspect of benefitting from mining wealth.

Mongolian Government plans to sell 30% of the shares in an overseas exchange, 10% on the domestic exchange for Mongolian owned businesses at nominal price and 10% distributed to the public in the form free share handout.The remaining 50% will be held by Government.

Currently 6 large international companies are shortlisted for second round of negotiation with Mongolia for investment in the coking coal mine.Enditem.

Source:MonInfo News Wire service



  1. This blog Is very informative , I am really pleased to post comment on this blog.
    Share tips

  2. I am very much pleased with the contents you have mentioned. I wanted to thank you for this great article. I enjoyed every little bit part of it and I will be waiting for the new updates.

  3. This is very amazing blog and information provided by the article of this blog is really nice and useful and i would like to visit the blog again.


Facebook page

Powered by Blogger.


Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Israel Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Kyrgyzstan Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and US Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive