Erdenes TT appoints new chairman

State-owned Erdenes Tavan Tolgoi (Erdenes TT) JSC has appointed State Secretary of the Ministry of Mining and Heavy Industry G.Nandinjargal as chairman of the board on October 9.

In addition to the new chairman, several other key government officials were appointed as members of the board. New members include State Secretary of the Ministry of Finance S.Narantsogt, Acting State Secretary of the Ministry of Roads and Transportation Development Kh.Mergen. The remaining members of the board include CEO of Erdenes TT B.Gankhuyag, S.Erdene of the General Intelligence Agency, Ts.Bayar-Erdene of the Agency for Policy coordination on State Property, and N.Bayarchimeg of the Legal Department of the Finance Ministry.

Regarding the appointment of a non-executive independent member of the board, the board voted to refrain from such appointments until the public can voice its opinion on the matter and a more detailed selection process can be conducted. Seeing as around 2.45 million Mongolian citizens own shares of Erdenes TT, the board has prioritized public involvement in such processes moving forward.

Proposals to appoint several individuals as independent members of the board were ultimately rejected by the board. In addition, the board was not able to discuss any changes to its bylaws during its most recent meeting and will likely discuss the aforementioned issues at its next meeting.