"Erdenes Mongolia" LLC received a loan of MNT 170 billion from the Development Bank with the purpose of transferring of Tavantolgoi-Gashuunsukhait road to the State. Currently, repayment of MNT 117 billion have been made.
The company paid MNT 107 billion to the Development Bank in previous years. By repaying the loan, "Erdenes Mongolia" LLC has become a normal class borrower.
Tavantolgoi-Gashuunsuhait road hasn’t been used as business purpose since it was into operation. And the road usage fee has not changed since 2017. This has caused difficulties for "Erdenes Mongolia" LLC to pay its loan received from the Development Bank.
In the last years, the government has been focusing on "Erdenes Mongolia", and made a decision to operate the company as a separate holding company in two groups: "Copper Metals Group" and "Coal and Energy Group".
The company's structure was changed by merging "Erdenet Factory", "Mongolrostsvetmet" SOSC and "Erdenes Tavantolgoi" JSC.
"Erdenes Mongolia" LLC received a loan of MNT 170 billion from the Development Bank with the purpose of transferring of Tavantolgoi-Gashuunsukhait road to the State. Currently, repayment of MNT 117 billion have been made.
The company paid MNT 107 billion to the Development Bank in previous years. By repaying the loan, "Erdenes Mongolia" LLC has become a normal class borrower.
Tavantolgoi-Gashuunsuhait road hasn’t been used as business purpose since it was into operation. And the road usage fee has not changed since 2017. This has caused difficulties for "Erdenes Mongolia" LLC to pay its loan received from the Development Bank.
In the last years, the government has been focusing on "Erdenes Mongolia", and made a decision to operate the company as a separate holding company in two groups: "Copper Metals Group" and "Coal and Energy Group".
The company's structure was changed by merging "Erdenet Factory", "Mongolrostsvetmet" SOSC and "Erdenes Tavantolgoi" JSC.