In August of last year, a decree was issued announcing the establishment of a copper smelting plant in Mongolia. This project has been under discussion for 50 years and is led by Biyambatsogt Sandag, the Minister of Mongolia and Head of the Government Affairs.
A working group has now been established to develop a feasibility study, select the copper smelting plant, and establish contacts with many leading global organizations operating in this field. This information was published by MiddleAsianNews.
Invitations to participate in the tender were sent to 55 companies from more than 20 countries through the Ministry of Foreign Affairs of Mongolia and its embassies abroad. As a result of the first selection phase, 13 companies from 7 countries offered their services, of which 4 companies were deemed suitable.
At the cabinet meeting, the government was instructed to choose one of the four shortlisted companies.
Currently, the list of remaining companies includes:
Non-ferrous Metal Industry's Foreign Engineering and Construction Co., Ltd (China)
Jiangxi Copper (China)
Shenzhen LITU New Energy Technology Co., Ltd (China)
Glencore International AG (Switzerland)
In the first quarter of this year, the government of Mongolia will select the company responsible for managing the copper smelting plant and processing ore concentrate.
“We intend to adhere to the principles of selecting the most experienced and technologically advanced investors. The process will be transparent and fair. The establishment of the copper processing plant will allow for the processing of copper mined by the state-owned company 'Erdenet' and produce up to 120,000 tons of pure copper annually. It is expected that about $700 million will be invested in the project over the next two years,” noted Biyambatsogt.
