Erdenes Oyu Tolgoi LLC, the Mongolian State owned mining company, announced the replacement of three board members on Tuesday 22^nd of September. The three Mongolian members – D.Ganbold, B.Byambasaikhan and Ch.Otgochuluu have been replaced by B.Munkhbaatar, N.Bagabandi and Ch.Altannar.

N.Bagabandi was the second President of Mongolia and the first member of the Oyu Tolgoi board of directors. Dr Ch.Altannar (PhD) was managing director of the German-Mongolian Institute for Resources and Technology (GMIT). A former deputy mayor of Ulaanbaatar, B.Munkhbaatar has been appointed  as executive director of the Erdenes Oyu Tolgoi LLC.

“Erdenes Oyu Tolgoi” LLC was incorporated in 2011, as a subsidiary of “Erdenes Mongol” LLC and is 34% owned by the Government of Mongolia.