Mongolian government to own 10% of OT copper smelter and refinery

 |  Written by MontaStudio  |  0

The Government of Mongolia will own 10% of shares of Oyu Tolgoi copper concentrate smelting and refining plant without making any investments and payments. The state authority in the plant will be exercised by the Ministry of Industry.

Thereby, a tender for selecting investor in the copper smelter and refinery will be organized in July of 2016.

According to members of the cabinet, a 10 percent package shares obliges the Mongolian government to provide policy supervision and regulations, as well as favorable legal environment and sustainability for the operations of the plant.

On the other hand it has a number of advantages such as attracting more investment to the copper smelting and refining industry, improving competitiveness, facilitating implementations of simultaneous projects on processing the by-products of copper plants or sulfuric acid, and on producing finished products from them and contributing in building chemical plants in Mongolia by promoting domestic consumption of sulfuric acid.