Erdenes Oyu Tolgoi LLC
Mining & Metals - Ulaanbaatar, Ulaanbaatar, Mongolia
Erdenes Oyu Tolgoi LLC Employees
Erdenes Oyu Tolgoi LLC Senior Management
Erdenes Oyu Tolgoi LLC Details
"Oyu Tolgoi Investment Agreement" and "Shareholders' Agreement" were signed by and between Government of Mongolia, "Rio Tinto International Holdings Ltd", "Ivanhoe Mines" LLC in 2009 and 2010 respectively for the development of the Oyu Tolgoi copper-gold mine located 500km south of Ulaanbaatar, nation's capital. On behalf of The Government of Mongolia, 34% of "Oyu Tolgoi" LLC was owned by a state-owned company "Erdenes Mongol" LLC (previously "Erdenes MGL" LLC). However, pursuant to Government's 348th resolution passed in 2011 and "Erdenes Mongol" LLC's 28th board resolution, "Erdenes Oyu Tolgoi" LLC was founded as a subsidiary of "Erdenes Mongol" LLC in 2012. "Erdenes Oyu Tolgoi" LLC is in business after officially obtaining the 34% ownership of "Oyu Tolgoi" LLC transferred from "Erdenes Mongol" LLC. The main vision of "Erdenes Oyu Tolgoi" LLC as defined in the company charter is to be the 34 percent shareholder of "Oyu Tolgoi" LLC, to participate in operations of "Oyu Tolgoi" LLC, to utilize state participation during the mine production. The management structure of "Erdenes Oyu Tolgoi" LLC comprises of Shareholder's meeting, Board of Directors and Executive Directors. According to the 2nd Board resolution of 2012, the organizational structure of the company was approved by the Board of Directors. The Company operates in accordance with the "The Company Law of Mongolia", "The Company Charter" and "The Internal Labor Procedure of the Company" as well as in alignment with the "OT Investment Agreement" and "Shareholder's Agreement".
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