Erdenet provides 512 billion MNT annually to the state budget

Dec 1 • Economy, Finance, Government, Mining, News • 478 Views • No Comments on Erdenet provides 512 billion MNT annually to the state budget

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In conjunction with the 30th anniversary of Erdenet JVC, Mr. Ch.Ganzorig, General Director of Erdenet JVC, Mr.Z.Ganbaatar, Vice Director for Production, Mr. Yo.Bayarsaikhan, Deputy Director for Social Issues, held a press conference.

Erdenet is the key contributor to the development of the Mongolian economy and it has the most up to date technology and facilities and highly trained human resource which secure consistent and continuous production. During its 30 years of history, it enriched 580 million tons of copper ore ad produced 3.4million tons of copper concentrate. As for the first 8 months of 2008, it has profit of 115 billion MNT and provided 512 billion MNT to the state and local budget.

Erdenet is the very first non-ferrous metal mine and it expands its production capacity year by year, reaching 25 million tons of copper ore per day. It scales 8% of total GDP. General Director Ch.Ganzorig emphasized its high performance that its production quality reached 86.23% of copper metal extraction and 40.8% of molybdenum metal extraction, where provides 43% of total export and 40% of total industrial production of Mongolia.

Its employees average salary reached 750.000 MNT (approx. 700 US$) per month.

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