Executive Director of the SouthGobi Sands Ch L
LC.Munkhbat met Deputy Chairman of the Cabinet Secretariat U.Byambasuren on
February 22. He introduced that the SouthGobi Sands Company has completely paid
off its debt of MNT 35.3 billion according to the court decision.
The Government issued a resolution regarding taking action on repayment of
MNT35.3 billion of the Company to the state budget in 2016. In the resolution, the
Government assigned the SouthGobi Sands LLC to equally allot MNT 15 billion in
2016 and 2017 and to satisfy MNT 20.3 billion through executing works for Tavantolgoi
mining.
"We have fully fulfilled the court decision and the Government resolution timely,
We are thankful to the Government on making decision to support private sector
when the company was in difficult condition. More than 400 workers of our
company could remain with salary and income.” said the Executive Director.
The Company plans to export 5.5 million tons of coal, of which 800 thousand
tons are concentrated in 2018.