The Cabinet decided to submit the draft resolution of the Parliament on measures regarding the shares of Erdenes Tavantolgoi. The shareholding structure of Erdenes Tavantolgoi JSC should be adjusted to allocate 34% of the total shares to Mongolian citizens. This allocation should encompass not only current citizens but also future generations by incorporating provisions for children born after April 11, 2012, and individuals who acquire Mongolian citizenship in future.

As of today, Erdenes Mongolia LLC holds 81.5% of the shares in Erdenes Tavantolgoi JSC. Approximately 2.5 million Mongolian citizens born before April 11, 2012, collectively own 18.44%. National enterprises retain ownership of the remaining 0.06% of shares.

The draft resolution aims to achieve equitable distribution of natural resource benefits among all Mongolian citizens by granting 1,072 shares of Erdenes Tavantolgoi JSC to each Mongolian citizen born after April 11, 2012, who does not currently hold shares in the company. The document proposes granting ownership of Erdenes-Tavantolgoi JSC shares to every Mongolian citizen born on or after January 1, 2024, directly.

“Currently, 2.5 million Mongolians possess 18.4% ownership of Erdenes-Tavantolgoi JSC, and this ownership will extend to 3.5 million citizens, constituting a 34% of shares. Specifically, 3,541,803 citizens of Mongolia will hold 34%, equivalent to 4.08 billion shares of Erdenes Tavantolgoi JSC. State ownership will lower to 65.9%,” Chief Cabinet Secretary D. Amarbayasgalan stated.