“Ardyn Erkh” newspaper and www.news.mn site issued a misleading article “Erdenes TT sold some part of its deposit to recover from debt” on August 30th of 2012.
Hereby, “Erdenes TT” JSC issues this official denial statement that it sold some part of the licensed areas to the third party.
The licensed fields of “Erdenes Tavan Tolgoi” JSC are officially registered under the name of the company and no such activities of selling some part of strategic deposit of the Mongolian State can be performed by the company. No similar actions shall ever be taken.
In addition, internal financial information of the company was quoted and inserted in the article. Please inform us which bank or source shared such information with our side? It is true that “Erdenes Tavan Tolgoi” is temporarily experiencing financial difficulties due to its contribution to “Human Development Fund” through its governing company “Erdenes MGL” LLC and it is no reason of suspension or interruption in the progress of Tavan Tolgoi project.
The Company kindly requests you to publish only realistic and true information about Tavan Tolgoi project, a great creation and industrialization of Mongolia and ownership of the people of Mongolia, only after receipt of official statement and comments from us.