The Ministry of Finance and the Government Agency for Policy Coordination on State Property and Regulation (GAPCSP) are very busy with frequent visits to Erdenet and Darkhan. After the Khutul’s “Cement and Lime” plant was taken over by the state, the government renewed the charter of Erdenes Mongol company and terminated the concession agreement with QMC of the Darkhan Metallurgical Plant.
The new management team of Khutul’s “Cement and Lime” State Joint Stock Company promised to launch an IPO in 2023 and turn the company into a listed, publicly controlled and open joint stock company. Before that, the company needs to finish paying all taxes to the government. However, the Darkhan Metallurgical Plant, which wasn’t able to build a mining and metallurgical complex for eight years, is now owned by the state, along with the strategically important Tumurtei, Tumurt-Ovoo and Khustai deposits.
2022-05-11