B.Enebish, Executive Director of Erdenes MGL was interviewed regarding the latest on Erdenes Tavantolgoi’s investment agreement.
Q: Why is the discussion with the investor consortiums are taking long? Will it affect the time for Erdenes MGL to enter the international stock market?
A: The meetings to select the strategic investors for Western Tsanhi of Tavan Tolgoi started on 11th of March. We are now at the 3rd stage of the discussions and we will soon select the investor consortium. I cannot go into further details. Yes it is taking long, we are not only discussing about the coal mine but also the railways, infrastructure and factories for value added products.
ith the investors should be clear. We are closely working with consortiums from three different countries.
Q: The operator companies are not chosen but are there any mining processes at Erdenes Tavantolgoi at the moment?
A: The work of removing the soil started on 27th of August, 2010. Enormous amount of soil is already removed and reached the coking coal layer. The plan is to start the coal export from the beginning of the next month.
Q: There is much negative news about the investor banks, how reliable are they?
A: The banks that we are working with are the largest in terms of stock market. They are the best in the world and from our point of view, we should not be worried. If there is negative news, then they should be questioned. We believe that they are the selected ones to make our IPO successful.