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Toshiba Signs Memorandum of Understanding on Cooperation in Development of Mineral Resources and Social Infrastructure with Mongolia's MNFCC

26 Nov, 2010

TOKYO — Toshiba Corporation (TOKYO: 6502) and Mongolia's MNFCC LLC signed a Memorandum of Understanding (MOU) under which they will initiate discussions on possible cooperation in the development of Mongolia's mineral resources, including uranium, rare earth and rare metals products, and enhancement of the country's social infrastructure.

Mr. Naoto Kan, the Prime Minister of Japan, met the Mongolian President, Mr. Tsakhiagiin Elbegdorj, on November 19, 2010, and the two agreed to build a strategic partnership and to secure mutually beneficial cooperation in developing mineral resources in Mongolia. Further moves to promote an economic relationship between Japan and Mongolia are expected.

On the basis of the MOU, Toshiba will seek to secure a mutually beneficial cooperative relationship with MNFCC, which is charged with providing strategic advice and policy implementation in the areas of mineral resources, energy, and social infrastructure under Mongolia's public-private-partnership program. Toshiba will conduct feasibility studies on key social infrastructure essential for securing Mongolia's continued economic growth, including thermal, nuclear and solar photovoltaic power systems and transmission and distribution networks and will seek to promote mutual development of mineral resources in an effort to secure stable supply.

About MNFCC

Company Name: MNFCC LLC
Founded: September 2010
Representative: Dugersuren Dashdorj
Lines of Business: Implementation of Mongolian public-private-partnership for development of mineral resources, energy and social infrastructure

 

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