sentences:  In 2010, the Erdenes MGL LLC formed a new company - Erdenes Tavan Tolgoi - which would hold the licenses and manage the Tavan Tolgoi deposit.In July 2010 it was reported that the government had decided to sell 30% of Erdenes TT, keep 40%, give 10% to Mongolian citizens and 20% to Mongolian companies.However, in 2011 the government announced plans for an IPO of 29% of Erdenes TT, and to continue to give 10% of the shares to citizens and reduce from 20% to 10% the amount given to Mongolian companies, with the government to hold the remaining 51%.