NAT'L COMPANIES UNITE TO EXPLOIT TAVAN TOLGOI

Ulaanbaatar, /MONTSAME/ Having considered that the Mongolians themselves have the potential to exploit Tavan Tolgoi, a leading deposit in the world with its coal reserve, national companies founded the "Mongolia 999" LLC.
Initiators of this unification appealed to the Mongolians to join forces in order to be owners of this deposit, whose reserve was preliminarily identified to be 6.4 billion tons, and pronounced a possibility of national companies to join by paying one million togrog regardless of their capability. Initiators named the company as "Mongolia 999" symbolizing an enrolment of 999 or more national companies of the company.
Within 12 days until the day when unified national companies are to convene for the first time, 1,283 companies have been registered of which 1,206 deposited MNT one million each in the account and affirmed their official enrolment. The number of companies interested in unification have exceeded the number that the initiators had expected.
The first meeting of the unified national companies "Mongolia 999" was held on May 6 and 7. They consider that the Mongolians have many years' experience in coal extraction and have trained professionals.
S.Batbayar