Earlier today, the Mongolian cabinet overruled a court decision regarding the 49 percent stake of the Erdenet Mining Corporation (EMC) in favour of theMongolian Copper Corporation (MCC). The Mongolian government claims a 100 percent stake of EMC for deducting the other half from MMC.

EMC was established in 1974 as a Mongolian-Soviet joint venture, later becoming a  Mongolian-Russian venture. In 2016, it was announced that Russian state-owned Rostec would be selling off its 49 percent stake in Erdenet for USD 450 million to MCC