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Reuters
Reuters
Business

EXPLAINED: Mongolia to take mining firm public after protests over graft | Rare Historical Photos

People take part in a demonstration against government corruption at Sukhbaatar Square in Ulaanbaatar, Mongolia December 12, 2022. REUTERS/B. Rentsendorj

Mongolia will push ahead with plans to list a state mining firm embroiled in a corruption scandal that has sparked protests in the capital Ulaanbaatar, with new ownership likely to help drive out graft, the country's justice minister told Reuters.

The state-owned Erdenes Tavan Tolgoi JSC (ETT) owns a large chunk of a sprawling 6-billion tonne coking coal deposit near the Chinese border that has been at the heart of Mongolia's plans to grow its small and mining-dependent economy for more than a decade.

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