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MMC was incorporated in the Cayman Islands as an exempted company with limited liability on May 18, 2010 in anticipation of the Global Offering in Hong Kong.Prior to the incorporation, the business was operated by Energy Resources LLC, a limited liability corporation organized under Mongolian law on April 22, 2005, [6] currently an indirect wholly owned subsidiary of MMC.
Mongolia Energy Corporation Limited (MEC) is a mining and energy development holding company operating in Mongolia and Xinjiang in northwestern China. It was incorporated in Bermuda and listed on the Hong Kong Stock Exchange. MEC became a constituent to the MSCI Hong Kong Index from June 2008. [1]
[7] [8] In 2006, the government awarded Energy Resources LLC the mining license over the Ukhaa Khudag section (license MV-11952). [9] The government also amended the Minerals Law in 2006 and identified 15 strategic deposits (allowing the government greater ownership of mines), of which Tavan Tolgoi was one.
While not a mind-blowing move, it is good to see that the Mongolia Energy Corporation Limited (HKG:276) share price has gained 24% in the last three months. But spare a thought for the long term ...
The International Monetary Fund (IMF) has estimated that 71 percent of the income from the mine would go to Mongolia. [5] Mongolia Energy Corporation, a mining and energy company operating in Mongolia and Xinjiang and Erdenet Mining Corporation, a joint Mongolian-Russian venture, account for a large percentage of the mining in the country, but ...
Mongolia is a landlocked unitary sovereign state in East Asia. Economic activity in Mongolia has traditionally been based on herding and agriculture, although development of extensive mineral deposits of copper, coal, molybdenum, tin, tungsten, and gold have emerged as a driver of industrial production. [ 1 ]
The Mongolian Stock Exchange, based in Ulaanbaatar, Mongolia, is the world's smallest stock exchange by market capitalisation. [ 2 ] [ 3 ] Its listed companies market capitalization was around US$1 billion in 2010 for 336 listed companies.
Newcom Group (Mongolian: Ньюком Групп) (the official name: Newcom LLC) is a Mongolian investment company. Its portfolio includes MobiCom Corporation , the first and the largest mobile telecommunications company in Mongolia, and Eznis Airways , the largest domestic airline in Mongolia .