June 22, 2016

Erdenes Mongol and GE Mining signed a Memorandum of Understanding to form a strategic relationship with regards to the development of mining, energy and infrastructure projects in Mongolia.

Ulaanbaatar, 22 June 2016 – Erdenes Mongol , a state-owned investment company with operating assets and projects in energy, infrastructure and natural resources, and GE Mining, a division of GE Transportation with a history of innovation in mining, signed a Memorandum of Understanding (MOU) to form a strategic relationship with regards to the development of mining, energy and infrastructure projects in Mongolia. 

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 for the 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 expertize 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. We are pleased to launch the strategic cooperation with General Electric, global leader in infrastructure technology and financial services.” Said Bayanjargal Byambasaikhan, CEO of Erdenes Mongol, at the MoU Signing ceremony in Ulaanbaatar.

Mohamed Butt, GE Transportation Asia Pacific CEO, added, “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.  Erdenes Mongol is striving to become a globally recognized corporation with similar to Singapore’s Temasek corporation with best corporate governance, management and operational practices. For more information, visit http://www.erdenesmongol.mn 

GE Mining, a division of GE Transportation, is dedicated to making mines work better through every step of the mining process by offering mining products, services and solutions in surface and underground mining. From the delivery of reliable power in remote regions to water supply and management, and from maximizing the output of your equipment to improving the availability of your assets, our solutions are catered specifically to your business’s challenges in the most productive, efficient, and safest way possible.  GE Mining offers global customers AC & DC electric drive systems for heavy- and medium-haul off highway vehicles, tethered electrical and battery vehicles and support equipment for intrinsically safe underground applications plus a suite of additional equipment, services and solutions to solve your business’s needs. For more information, visit www.getransportation.com/mining.

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