Shares in Tavan Tolgoi mining company were promised to all Mongolian citizens, newborn and retirees included.
Tavan Tolgoi is one of the world’s largest deposits featuring 6.5 bn t of coal reserves, with 40 per cent of reserves being coking coal. Moreover, the coal deposit is open-cutable, thus minimizing production costs.
In 2010, the decision to establish Erdenes Tavan Tolgoi Company was adopted, with 50 per cent of the company stock owned by the government, 30 per cent offered at international stock-exchanges, 10 per cent offered to Mongolian companies, and 10 per cent distributed without indemnity among Mongolian citizens.