The Executive Director position of "Erdenes Mongol" has been vacant for almost a year. O.Khulan, the first deputy director of the company, has been serving as the acting CEO up until now. Although the government was looking for a new appointment, the process and negotiations took an entire year, and finally, S.Narantsogt, the former Deputy Minister of Economy and Development, has been appointed to “Erdenes Mongol”.Prior to becoming a deputy minister, Narantsogt Sanjaa was promoted from an expert at the Ministry of Finance to the head of the department and the secretary of state. He graduated from the National University of Mongolia in 1994 with a degree in physics and mathematics. He started his career as an assistant researcher at the Institute of Mathematics of the Mongolian Academy of Sciences. “Erdenes Mongol” is a holding company of state-owned enterprises. Mr. S.Narantsog will be heading the company at the most critical time of its development. This is because the company is currently under a heavy debt burden, and its subsidiaries are under investigation over the “Coal Theft” scandal, therefore, the operations of these companies have deteriorated. Currently, "Erdenes Mongol" has 34 subsidiary SOEs.
The Cabinet decided to appoint O.Khulan, the acting CEO, as the head of the Central Management Department. In addition, the constitution of "Erdenes Mongol" has been amended to restructure into Copper, Coal, Rare Elements, and Infrastructure Groups. In this context, the company will operate with 89 staff in seven locations under seven departments. Along with the appointment of the Executive Director, the recruitment for 88 positions has been announced.
