Shivee-Ovoo, one of Mongolia’s newest mines, was opened in 1992 with the strategic purpose of filling the rapidly growing domestic demand for coal in Mongolia. Shivee Ovoo coal mine is located Shivee Gobi, Gobisumber province. The mine has a simple geological structure and large coal reserves estimated at more than 2.8 billion tons of resource. In addition, Shivee-Ovoo has several favorable infrastructure aspects such as railway connection and a power transmission line.

 

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In 2008, the Mongolian government gave the license to operate the Shivee Ovoo mine to state-owned company “Erdenes Mongol”. The government management aims to continue to enhance the coal production capability in Shivee Ovoo through the introduction of new equipment. The government hopes that by increasing production in Shivee Ovoo future coal demand in Mongolia will be met and will stabilize energy supply needs. Before the Shivee-Ovoo mine, the license for Ulaanbaatar’s major energy supplier mine was owned by “Shine Shivee”.

The company has been selling their public shares since February 11, 1995 with the initial price of 100 MNT per 1 unit of stock. The company is offering 10% of total issues.

Ticker symbol-      SHV
Stock Code-          460
Total issues -       13,419,101
State-owned-        90.0% (12,077,191)

Market capitalization – 57 688 715 199 MNT (as of July 2008)

 

Source:  www.mse.mn