Erdenes Mongol is a state-owned investment company with operating assets and projects in energy, infrastructure and natural resources while GE Mining is a division of GE Transportation with a history of innovation in mining.
GE Mining will work with Erdenes Mongol to explore the possibilities of applying GE’s suitable mining equipment in different mining projects including the Oyu Tolgoi underground mine expansion project to maximize the value of Mongolia’s world-class mining assets, and jointly exploring the possibility to improve capacity and efficiency of Erdenes Mongol’s mine sites with GE Digital Mine Solutions.
Both parties will also seek extended cooperation in the areas of power generation, coal bed methane projects, coal and wind projects, coal gasification projects, railways, water infrastructure projects, and executive training and development.
“With the combination of GE’s domain expertise in global mining industry and Erdenes Mongol’s strong presence in the country, our partnership will be strategically valuable for the sustainable growth in Mongolia,” said Erdenes Mongol CEO Bayanjargal Byambasaikhan, at the MOU signing ceremony in Ulaanbaatar.
“We are pleased to launch the strategic cooperation with General Electric, global leader in infrastructure technology and financial services.”
GE Transportation Asia Pacific CEO Mohamed Butt said, “We are pleased to play a role in developing Mongolia’s resources and infrastructure by providing technology and capabilities to our customer, who is committed to maximizing the potential of natural resources to improve the living standards of the Mongolian people.”
Erdenes Mongol LLC is a state holding company of strategic importance to the Government of Mongolia, with the objective to become a leading national company in Mongolia’s key economic sectors, including mining, infrastructure and energy.
The company seeks to help Mongolia to effectively and efficiently use natural resources, and to enhance the country’s economic performance and encourage diversification.