#Mongolie, l’attribution de 1072 actions de la mine de charbon de #Tavan_Tolgoï aux 2,5 millions de citoyens mongols (décidée il y a 6 ans…) passe en phase active.
What mobilizing Erdenes TT shares for 2.5 million citizens could mean for the stock market | The UB Post
▻http://theubpost.mn/2018/03/05/what-mobilizing-erdenes-tt-shares-for-2-5-million-citizens-could-mean-for-
Nearly 2.5 million Mongolian citizens will finally be registered as shareholders in Erdenes Tavan_Tolgoi (Erdenes TT) nearly six years after a mass distribution of shares in 2012. More than two thirds of Mongolian citizens currently own 1,072 shares each in the majority state-owned coal mining company. But that ownership has been in name only, with many displeased with the government’s inaction in mobilizing citizen-held shares. But thanks to a recent vote by the board of Erdenes TT, the issue is likely to reach a resolution in the near future, and with that comes the potential for a monumental shift in the nation’s economy.
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In 2017, Erdenes TT mined more than 10.1 million tons of coal and exported 8.4 million tons, amassing revenue of 1.1 trillion MNT. From this revenue, 243 billion MNT was contributed to the state budget. G.Khashchuluun believes that this revenue can be doubled or even tripled, helping to strengthen the value of the company.
“Right now, Erdenes Tavan Tolgoi mainly exports raw coal to China. If the company ceases export of raw coal and begins exporting processed coal, revenue could be increased twofold or even threefold. This can be accomplished by the government with an increased export tax on raw coal,” G.Khashchuluun said.
No matter how the situation plays out, the fate of Erdenes TT is on pace to have far-reaching effects on not only Mongolia’s financial and mining sector but also the economic and political landscape of the nation.
