The much anticipated litigation case over Erdenet Mining Corp’s 49 percent stake ownership has already commenced at Mongolia’s two primary courts; multiple rulings have been issued in favour of the Mongolian Copper Corporation. On 9th of October, the Mongolian High Court held a hearing over the disputed 49 percent stake ownership of EMC.
In February, the Mongolian parliament approved a resolution to transfer 49 percent of the equity of Erdenet Mining Corporation and Mongolrostsvetmet LLC to state ownership; this came after the Mongolian Copper Corporation reached an agreement with Russia’s state-owned Rostec. This deal was concluded with the owners finalising agreements and payments. Many issues, however, remain regarding transfer of the 49 percent.