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🏛️ “Erdenes Mongol” to Dissolve 10 Subsidiaries and Transform into a Corporation Under the National Wealth Fund Model 🏦

May 27, 2026

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The Government of Mongolia has approved a major restructuring plan for the “Erdenes Mongol” group, transforming it into the “Chinggis Khaan National Wealth Fund Corporation.”

📌 As part of the reform, 10 subsidiaries with overlapping functions and low operational efficiency will be dissolved, while only profitable, strategically important companies and entities with active investment agreements will continue operations.

  • 💰 According to preliminary estimates, the restructuring is expected to eliminate approximately 260 positions, reduce administrative expenses by 10%, cut rental expenses by 30%, and generate an initial MNT 67.3 billion in cost savings.

  • 🏦 Through the restructuring, “Erdenes Mongol” is expected to transition from a traditional mining sector holding structure into a professional asset management and investment institution aligned with international sovereign wealth fund standards.

🇲🇳 The new structure will focus on improving the management of state-owned mining assets, increasing contributions to Mongolia’s National Wealth Fund, and enhancing long-term citizen savings and wealth accumulation.

📈 Davaadalai B. Chief Executive Officer of “Erdenes Mongol” LLC, stated that the current balance in each citizen’s savings account stands at approximately MNT 500,000, with a target of increasing it to MNT 1 million by the end of this year.

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