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Investment

Expansion of Erdenet Mining Corp. created 33 more jobs and increased revenues by MNT 240 billion

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Expansion of Erdenet Mining Corp. created 33 more jobs and increased revenues by MNT 240 billion

Last Saturday Erdenet Corp. has held an opening ceremony of its Concentrator Manufacture expansion. The expansion works has been implemented within 1.5 years which is to result in increase in revenues by MNT 240 billion and taxes MNT 535 billion.

Erdenet is mostly know as being a 'cash cow' for the Mongolian state since its commencement in 1978. As of stats of 2014 the miner has processed 516 thousand tons of copper concentrate, manufactured 113 thousand tons of though cake with revenues reaching MNT 1.3 trillion.

One ton of copper is used to produce 44 km long copper rods with diameter of 1,2 mm, meaning that total of 4,972,000 km copper rods could have been produced with the total tough cake output of 2014.

Last Saturday Erdenet Corp. has held an opening ceremony of its Concentrator Manufacture expansion. The expansion works has been implemented within 1.5 years which is to result in increase in revenues by MNT 240 billion and taxes MNT 535 billion.

Erdenet is mostly know as being a 'cash cow' for the Mongolian state since its commencement in 1978. As of stats of 2014 the miner has processed 516 thousand tons of copper concentrate, manufactured 113 thousand tons of though cake with revenues reaching MNT 1.3 trillion.

One ton of copper is used to produce 44 km long copper rods with diameter of 1,2 mm, meaning that total of 4,972,000 km copper rods could have been produced with the total tough cake output of 2014.

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Category
Investment
Published
2015-06-23


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