ANNUAL%20REPORT%202015%20eng

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Sustainability Report Case Study Successful graduation of the Company scholarship recipients As part of its educational support program, the Company has funded a scholarship program for the Cambridge international academic program, jointly with “Orchlon” secondary school since 2010. The aim of the scholarship program was to provide quality educational opportunities to the best performing students of the country who lacked adequate financial resources. In the spring of 2015, the first 6 recipients of the scholarship successfully completed their Cambridge program at “Orchlon” school and received their diploma of secondary education. The Company representatives attended the graduation ceremony and shared their impression on the program results and outcome. All of the 6 graduates showed exceptional academic performance throughout the program period and topped national and international Olympiads in various subjects. Moreover, all of them were accepted into high-ranking colleges and universities in the United States and Western Europe, an indication that the program succeeded in achieving its goal. SOCIO-ECONOMIC CONTRIBUTION We believe that as a good corporate citizen, we must continuously contribute to the country’s socio-economic development, community well-being and sustainability. While keeping our position as one of the major employers and tax contributors of Mongolia, we remain committed to continue our cooperation with local governments, communities and other stakeholders and play a part in improving local development and living standards. Job creation Despite the challenging market and economic conditions, we continued our efforts to retain our employees and hired and trained local people whenever possible during the reporting period. As of the year ended 2015, MMC employed 1,797 employees, approximately 45% of whom were locally hired. In the reporting period, the Company spent approximately MNT37 billion for employee wages and remuneration and MNT3 billion for employee benefits and allowances, respectively. Tax contribution During the reporting period, MMC contributed MNT74 billion to the state and local budget through direct taxes and commissions, a substantial amount given the size of the country’s economy. Community support In addition to our wider economic contribution, we aim to provide a strong base for the local economic growth and cooperate with our host community members in multiple ways. In 2015, we invested about MNT2.4 billion in support of community development through various projects, targeted programs and grants and sponsorships. Annual Report 2015 75
Sustainability Report Procurement We follow ethical business practices in our purchasing and supply management and give priority to local businesses. In the reporting period, MMC cooperated with about 320 suppliers and contractors of which over 85% were local businesses in Mongolia. We support host community businesses through our sustainability livelihood development program and aim to create market opportunities by making them aware of our standards, procedures and performance expectations. In 2015, we sourced products and services from 13 local businesses in Umnugobi aimag and our operation expenditures on goods and services such as transport, utilities, construction, food, etc. from the local suppliers totalled approximately MNT450 million. 76 Annual Report 2015
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(Incorporated in the Cayman Islands
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Company Profile Mongolian Mining Co
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Corporate Information BOARD OF DIRE
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Directors and Senior Management BOA
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Directors and Senior Management Gan
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Directors and Senior Management Une
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Directors and Senior Management SEN
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Group Structure 14 Annual Report 20
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Chairman’s Statement I believe th
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Management Discussion and Analysis
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Financial Summary SUMMARY DATA OF C
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Appendix I Technical details of the
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Appendix I Criteria Commentary •
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Appendix I Criteria Commentary Infr
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