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AmCham Mongolia Daily Newswire

March 12, 2019

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Mongolian Copper Corporation officials requests negotiations with the government
Mongolian Copper Corporation requested holding discussions with the government about Erdenet Mining Corporation’s ownership. Chairman of Mongolian Copper Corporation M. Munkhbaatar said, “Under Resolution 23, issued by Parliament in 2017, Cabinet ordered that the state own Erdenet. Cabinet made several resolutions, but the court decided to cancel that decision two times, and Mongolian Copper Corporation's ownership was reinstated. Currently, court enforcement of state ownership of Erdenet has been ordered by the government, and as a result, its operations have been negatively affected, which sets a bad example for Mongolia's legislative development." Therefore, the company's officials have asked the government to take part in negotiations to reach an agreement meeting Mongolian laws and regulations as soon as possible.

The Official Gazette /page 2/
Update on Erdenes Tavan Tolgoi’s IPO
Mongolian representatives headed by Minister of Mining and Heavy Industry D. Sumiyabazar attended the 87th annual Prospectors and Developers Association of Canada (PDAC) forum, exhibition, and investors meeting, which took place in Toronto, from March 3 to 6, and presented investors with information about the plan for an Erdenes Tavan Tolgoi IPO and the company’s current conditions. During a meeting in Toronto, Mongolian representatives officially announced the release of an IPO for up to 30 percent of the company's shares. The company will select an underwriter within the first quarter of 2019. The company plans to finance 283 billion MNT for advisory services. The CEO of Erdenes Tavan Tolgoi says that the company expects to carry out 20 projects in preparation for the release of the IPO.

The Official Gazette /page 1, 12/
19 companies announce 55.2 billion MNT in dividend yields
The Financial Regulatory Committee (FRC) reported that 82 joint stock companies registered on the Mongolian Stock Exchange have held their Board of Directors meetings and have presented updates on their dividend yields. According to the FRC, as of March 2019, 19 companies will be distributing 55.2 billion MNT in dividend yields to their shareholders.
The Century News /page 5/
70 percent of the National Data Center’s clients are government organizations
Fintech companies are reporting that data management and security has been developing in Mongolia. The National Data Center reported that there is rising demand in the data center market, due to the high use of emails, websites, and mobile applications. The center reports that 70 percent of its clients are government agencies. The center plans to open a back-up data center in Darkhan, which will require 3.5 million USD in financing. The Mongolian Telecommunications Association emphasized the importance of developing the legislative environment regarding the nation's data centers.
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