The TOP-20 index composition is renewed yearly. This time, three mining companies, ‘Aduunchuluun’, ‘Sharyn Gol’ and ‘Shivee Ovoo’, have been removed from the TOP-20 index. In 2018, trading volume of stocks of these companies has dropped, share prices of them have fallen, and the market capitalization of these three companies has decreased dramatically. As a result, the three of them were removed from the index. 

The CEO of ‘Shivee Ovoo’ JSC said that that companies who supply coal to power plants have been operating with loss for many years. This was due to the fact that cost of mining per ton is higher than coal sold in the same amount. In order to solve this problem, the CEO of ‘Shivee Ovoo’ JSC emphasized that it is necessary to implement mine-based power plant projects.

In 2018, share price of ‘Aduunchuluun’ JSC and ‘Sharyn Gol’ JSC decreased by 32.3 percent and 19.1 percent respectively. Since 1993, ‘Sharyn Gol’ JSC and ‘Shivee Ovoo’ JSC have distributed dividends to its shareholders twice and three times respectively. This year, only one mining company, ‘Tavan Tolgoi’ JSC, is included in the TOP-20 index.

Source: BloombergTv.mn