Mongolia claims 100% ownership of Erdenet Mining Corporation.The Erdenet Mining Corporation, the main breadwinner of Mongolia, has been officially transferred 100% to Mongolia’s ownership, having its 49% share handed over by Russian side to “Mongolian Copper” Company. The Mongolian government holds 51 percent and the Russian Rostech Corporation used to hold 49 percent of EMC. As a result of the negotiations with Rostech, Mongolian company “Mongolian Copper” has bought 49 percent, representing the Trade Development Bank of Mongolia. Therefore, the EMC’s status has changed from “joint venture”, regulated by international agreement, to a national entity, regulated by the Law on Companies of Mongolia. Before such a change, dividends Mongolia yielded was 51 percent of the total profit, and the other 49 percent went to Rostech, whereas now 100 percent of the EMC profit will stay in Mongolia. The Premier also expressed his concerns about the false and distorted news coverage on this matter, regarding the current political situations.