Mongolia’s Government to fully own Erdenet Mining Corporation
Erdenet Mining Corporation is one of the biggest ore mining and ore processing factories in Asia.
Mongolia’s Government is to fully own Erdenet Mining Corporation. Erdenet Mining Corporation is one of the biggest ore mining and ore processing factories in Asia. The closing session of Parliament discussed the matter concerning the purchase of Russian Rostech-owned 49 percent of Erdenet Mining Corporation by the Mongolian Copper Corporation, and issued a resolution on some measures to be taken regarding the copper plant. The resolution sets out to transfer 49 percent of Erdenet Mining Corporation to government ownership the previous Cabinet’s step regarding the selling of the 49 percent of Erdenet Mining Corporation violated the Constitution of Mongolia, Law of Mongolia on Government, Law on State and Local Property, and an intergovernmental agreement between the Governments of Mongolia and the Russian Federation.
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