Modern copper plant to be built
Modern copper plant is to be built.
Modern copper plant is to be built in northern Mongolia. The “Zes Erdeniin Khuvi” stock company plans to establish a copper plant which will use oxidized copper ore. An initial part of the construction project was taken when an investment and co-operation contract was made. Construction work will begin in May this year. The plant will have an annual projected capacity of 5000 tons of cathode copper. The cathode-copper plant is forecast to fully recoup the investment within 4 years following the launch of production. The plant will create some 140,000 new jobs and shares will be available to 40,000 stockholders. It is forecast that $3.5 million will be generated in tax revenue annually. The Ferrostaal Group of the Germany was appointed as the general contractor of the project; and Finland’s Outotec will be responsible for equipment procurement.