Ulaanbaatar /MONTSAME/ The state-owned “Erdenes Mongol” LLC and the Mongolyn Alt Corporation (MAK) established a joint company named “Erdenes Ashid” to work in geological exploration and studies by signing the agreement on Monday, February 13.
The joint company is to conduct geological explorations, assessments and detailed studies, and is to manage and operate concentrate plants and other factories based on mineral deposits.
Executive Director of Erdenes Mongol LLC Ts.Tumentsogt said: “Founding this company is facilitating the state-owned company to collaborate with MAK, which has abundant expertise in mining exploration and geology”.
“MAK has more than a hundred specialists of mining exploration, whereas the geological exploration is a new field for Erdenes Mongol. Therefore, the companies will be sharing resources to undertake mutually beneficial projects. Our vision is to attract more foreign investment in Mongolia’s mining sector and discovering new deposits”, he added.