1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Top gold stories of the year and what to expect in 2022 www.mining.com

Coming off a record-setting 2020, gold’s performance has underwhelmed for much of this calendar year.
A big reason is a more hawkish-than-expected stance from the US Federal Reserve, which created a high interest rate environment and reduced the appeal of the non-yielding bullion.
The promise of higher returns on other assets also coincided with the arrival of covid vaccines, a signal for economic recovery, thus tilting the market towards riskier investments.
As a result, gold prices are trading 4.9% lower year-to-date (as of December 27, 2021), paving the way for its first annual loss in three years.
Still, despite a lackluster year for the yellow metal, 2021 is rife with plenty of gold-related news for investors to digest heading into the new year.
#1 Billion-dollar M&As
Back in January, analysts at Bank of America already predicted that the need to replace gold reserves would be a driver for more mergers and acquisitions this year. Indeed, the gold sector delivered a slew of deals, some involving the big players.
Agnico Eagle and Kirkland Lake Gold’s C$13.5 billion merger to create a new gold giant with a $24 billion market capitalization and 48 million ounces in reserves grabbed headlines.
During a recent symposium held by the Canadian Mining Journal, Kirkland Lake CEO Tony Makuch said that this is “one of the Canadian gold sector’s most important mergers in recent memory.”
However, the Agnico-Kirkland Lake merger announced in September is likely to be “the last blockbuster M&A deal by a major in the Canadian mining sector,” according to Haywood Securities mining analyst Kerry Smith.
Another merger of note is Newcrest’s acquisition of Pretium Resources in early November. The prize of this $2.8 billion deal is the Brucejack property, about 140 km from the Australian miner’s majority-owned and operated Red Chris mine located within British Columbia’s Golden Triangle.
A month later, Kinross also looked to expand its footprint within another famed gold mining region in Canada — the Red Lake district of Ontario — with its $1.4 billion acquisition of Great Bear Resources and its flagship Dixie project.
Barring any significant developments in the final week of 2021, this would be the last significant gold M&A deal of the year.
#2 Earlier deals
While no billion-dollar deal was announced during the first eight months, the impact that some of the earlier M&As may have on the industry cannot be overlooked.
Agnico already had a head start in January by snapping up TMAC Resources after the Canadian government rejected a bid from China’s Shandong Gold for the Nunavut miner. In the same month, Eldorado Gold acquired QMX Gold in a friendly merger, thus significantly expanding its landholding in Quebec.
In March, Newmont made its move by acquiring the remaining stake in GT Gold in a C$393 million all-cash deal. This would give the world’s biggest gold miner full control over the Tatogga project, also located near the Red Chris mine in BC. Also in March, Australia’s Evolution Mining grabbed Battle North Gold, whose operations are based in Ontario’s Red Lake, for C$343 million.
In April, Fortuna Silver Mines announced that it would acquire the West Africa-focused Roxgold for $884 million, thus taking its operations beyond Latin America.
Also not missing out on the action is AngloGold Ashanti, which offered in July to buy the rest of Corvus Gold for $370 million to consolidate its landholdings in Nevada.
#3 Future mines
2021 also marks a milestone year for some of the world’s soon-to-be gold mines.
In October, Equinox Gold began construction at its $1.23 billion Greenstone project in Ontario, which is slated to become one of Canada’s largest gold mines, producing more than 400,000 ounces annually for the first five years.
Ascot Resources, which is developing the Premier gold project in BC’s Golden Triangle, was recently given the go-ahead to begin construction, with first production expected in Q1 2023.
Some mines have also achieved commercial production this year, highlighted by the Segilola mine in Nigeria, the first ever gold operation in the country.
#4 Overseas conflicts
Political factors remain a driving force behind a miner’s decision over some gold operations.
In the Dominican Republic, Barrick and Newmont could be forced to end their Pueblo Viejo joint venture without approval of a new tailings storage facility.
B2Gold is also at impasse with the Malian government over an exploration project near the company’s flagship Fekola gold mine.
A new law passed in Kyrgyzstan also saw Canada’s Centerra Gold lose control over its Kumtor mine, which is now a subject of international arbitration proceedings.
#5 Other trends
In the first half of 2021, the world’s top gold miners reported a 1.1% decline in production compared to last year, due to lower ore grades and mill throughput, according to analytics firm GlobalData, though it expects output to recover in the second half to keep production flat for the year.
Gold production was also exacerbated by the covid pandemic, which interrupted many operations. What the lockdowns did not affect was emissions caused by gold mining operations, as shown by a study published by S&P Global Market Intelligence.
On the demand side, the World Gold Council believes there is a noticeable trend among investors to seek out assets that have previously helped their portfolios but are less liquid. The shift towards riskier alternatives would pave the way for gold, according to the Council, given that the metal provides capital and liquidity needed during a market sell-off.
What’s in store for 2022
Still, with inflation pressures mounting and the possibility of multiple rate hikes, 2022 could manifest a year of recovery for the yellow-colored metal.
Analysts, including those at TD Securities remain optimistic about a potential gold rally in H1 2022.
The outlook for gold in the first quarter of 2022 is upbeat, with the main driver being inflation, which is keeping a floor under prices, said Jim Wyckoff, a senior analyst at Kitco Metals, in the latest Reuters report.
(With files from Reuters)
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Trade booming between Russia & China www.rt.com

The volume of trade between Russia and China from January to November this year has already exceeded $130 billion and is set to hit a new historic high by the end of 2021.
“Despite the objective anti-epidemic restrictions, practical cooperation is actively developing. Mutual trade turnover in 11 months has already exceeded $130 billion, continues to grow and, undoubtedly, a new record will be set at the end of the year,” Russia’s Ambassador in China Andrey Denisov said on Tuesday.
The official added that both countries are working closely to reach $200 billion in annual trade turnover in the nearest future.
Earlier this month, Russian President Vladimir Putin and Chinese President Xi Jinping held video talks amid escalating tensions between the two nations and the West. Following the discussions, the Kremlin revealed that the two leaders had agreed to develop a shared financial system to reduce reliance on US-dominated platforms.
Speaking to journalists at his annual end-of-year press conference on Thursday, Putin called China Russia’s number-one partner, adding that “we have very trusting relations and it helps us build good business ties as well.” He also praised China’s economy and forecast that “by 2035-2050, it will have surpassed [the US] and will become the leading economy in the world, according to all metrics.”
China has been the main importer from Russia of non-primary non-energy goods since 2016. According to the Russian Export Center (REC), deliveries of these goods have been growing for seven consecutive years, and that trend has continued through 2021. Products that showed the largest growth are copper, aluminum, direct reduced iron, copper wire, fertilizers, lumber, oilseeds, crustaceans, paper and cardboard.
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Boeing 737 Max: Indonesia lifts ban after 2018 Lion Air crash www.bbc.com

Indonesia has lifted a ban on the Boeing 737 Max, more than three years after the Lion Air disaster that saw the loss of all 189 people on board.
The plane maker saw its best-selling aircraft grounded globally after a deadly crash in March 2019 involving an Ethiopian Airlines 737 Max.
On Monday, Ethiopian Airlines said it will resume such flights in February.
The announcements come months after the aircraft returned to service in the US and Europe.
More than 180 countries now allow the use of the 737 Max, with Australia, Japan, India, Malaysia and Singapore lifting their bans this year.
Indonesia's transport ministry said in a statement that the lifting of the ban would be effective immediately, and that it follows regulators' checks of changes made to the aircraft's systems.
The ministry also said that airlines must follow airworthiness directives and inspect their planes before they can fly the 737 Max again, adding that government officials would also inspect the planes.
Lion Air, which operated 10 such planes before the ban, did not immediately respond to a request for comment from the BBC.
Indonesia's national flag carrier Garuda said it had no plans to reintroduce the plane to its fleet as it focuses on debt restructuring.
The state-controlled firm, which operated just one 737 Max before the plane was grounded, has said it aims to cut its fleet of aircraft from 142 to 66 as part of its turnaround plan.
On 29 October 2018, Lion Air Flight 610 crashed into the Java Sea 13 minutes after taking off from Jakarta's Soekarno-Hatta International Airport, killing all 189 passengers and crew.
Less than five months later, Ethiopian Airlines Flight 302, a Boeing 737 Max on its way to Kenya, crashed six minutes after leaving Ethiopia's capital Addis Ababa, killing all 157 people on board.
"We have taken enough time to monitor the design modification work and the more than 20 months of rigorous rectification process... our pilots, engineers, aircraft technicians, cabin crew are confident on the safety of the fleet," Ethiopian Airlines' chief executive Tewolde Gebremariam said in a statement about resuming 737 Max flights.
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Study: Omicron may be less pathogenic than Delta www.nhk.or.jp

A group of researchers in Japan says its animal experiments have suggested that the Omicron variant of the coronavirus may be less pathogenic than Delta.
The group is led by Associate Professor Sato Kei of the University of Tokyo's Institute of Medical Science and Professor Fukuhara Takasuke of Hokkaido University's Graduate School of Medicine.
The research results have been released online.
The group's studies compared Omicron with the Delta variant and an early pandemic coronavirus.
The group says Delta and the early strain in cell cultures broke up infected cells and induced cell-cell fusions, but Omicron did not show such fusions.
The group also infected hamsters with each of the three viruses.
The researchers say those infected with Delta or the early strain showed weight loss, exacerbation of pneumonia or bleeding in the lung.
By contrast, they say hamsters infected with Omicron did not show such weight change, and their pneumonia did not become serious.
The researchers say the findings about Omicron in their study are just those in an experimental animal model. But they say the results suggest that symptoms of the variant may be milder than Delta and others.
Fukuhara warns people to remain on alert for Omicron as well because it can cause pneumonia and the number of people in serious condition may increase if it spreads.
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67.3 million head of livestock counted nationwide www.montsame.mn

According to the preliminary result of the annual livestock census of 2021, a total of 67.3 million head of livestock, 268.4 thousand or 0.4 percent more than in 2020, have been counted nationwide. Specifically, 4.3 million horses, 5 million cattle, 453.8 thousand camels, 31.1 million sheep, and 26.5 million goats have been counted this year.
Sheep account for 46.2 percent of the total number of livestock, goats 39.3 percent, horses 6.4 percent, cattle 7.5 percent, and camels 0.7 percent. Compared to the previous year, the number of sheep decreased by 1 million or 3.4 percent, cattle by 288.8 thousand or 6.1 percent, and horses by 230.1 thousand or 5.6 percent. There was an increase of 1.3 million or 4.6 percent in the goat population and 19.1 thousand or 4 percent increase in camels.
The largest number of livestock or 5.9 million head of livestock were counted in Khuvsgul aimag, followed by Arkhangai aimag with 5.6 million head of livestock, Khentii aimag - 5 million, Tuv aimag – 4.7 million, and Sukhbaatar aimag – 4.2 million.
Compared to the previous year, livestock increased by 17.4-440 thousand in Orkhon, Selenge, Zavkhan, Bayan-Ulgii, Dornogobi, Arkhangai, Bulgan, Khentii, Dornod, Sukhbaatar, Khovd, Uvs and Khuvsgul aimags, while the numbers dropped by 5.2-712.8 thousand in Ulaanbaatar city and Darkhan-Uul, Gobisumber, Tuv, Gobi-Altai, Umnugobi, Uvurkhangai, Dundgobi, and Bayankhongor aimags.
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The African nation aiming to be a hydrogen superpower www.bbc.com

"So now finally, we're on the map," says Philip Balhoa about Lüderitz, a town in southern Namibia, where harsh desert meets pale ocean.
The port town has previously benefited from diamonds and fishing booms, but now struggles with high rates of unemployment and aging infrastructure.
A proposed green hydrogen project is set to be "the third revolution of Lüderitz," says Mr Balhoa, a member of the town council.
He hopes that the project will train and employ local people, or "Buchters" as they affectionately call themselves - bringing down the town's 55% unemployment rate.
"For a town that's really been struggling economically over the past 10 or 15, maybe longer, years, this is something that people are really very excited about," he says.
The project will be based near the town in the Tsau //Khaeb National Park, and ultimately produce around 300,000 tonnes of green hydrogen per year.
In simple terms, the renewable energy from the sun and wind will be used to separate hydrogen molecules from desalinated water.
Those hydrogen molecules in their pure form or in derivative green ammonia can make up a variety of products, including sustainable fuels.
The preferred bidder, Hyphen Hydrogen Energy, is set to start production in 2026 and will have the rights to the project for 40 years, once the necessary feasibility processes are concluded.
The firm says the four years of construction are likely to create 15,000 direct jobs and 3,000 more during full operations - and that 90% of them will be filled by locals.
Hydrogen projects are part of President Hage Geingob's plan to transform Namibia
Mr James Mnyupe is the Namibian government's presidential economic advisor and hydrogen commissioner. He explains that Lüderitz's location is ideal, because of the extensive solar and wind resources and the proximity to the ocean, both as a water source and a port.
Mr Mnyupe says this is all part of a plan for change in Namibia by President Hage Geingob. "The president was very keen to craft an economic recovery plan that is responsive, globally relevant, and systemic in nature."
This forms part of a much bigger development fuelled by green hydrogen that the government hopes to find funding for, expanding into agriculture, logistics and energy. Mr Mnyupe speaks of green hydrogen trains and pipelines to trade with neighbouring countries.
There are hopes of creating renewable electricity, both for export and as an alternative to imported coal power from South Africa.
"The idea is to turn Namibia into not just a green hydrogen hub, but into a synthetic fuels industry powerhouse," he says.
The impact is set to be international, with agreements already signed with Germany, Belgium and Rotterdam in the Netherlands.
This comes with some funding agreements, but Namibia is looking at more options, such as green or sustainable bonds, towards the roughly $9.4bn (£7.1bn) needed for the initial project.
To put the size of the investment into perspective - Namibia's entire GDP in 2020 was just $10.7bn.
"People could start taking us seriously as a trading partner, and not a net recipient of development assistance," says Mr Mnyupe. "For the ordinary Namibian, this means hope."
Mr Balhoa expects that the planned influx of people and business will strengthen infrastructure in Lüderitz, like roads and hospitals, and that the project will attract more investment from the central government into the area.
But the optimism comes with matching concerns. Mr Balhoa says previous large projects have not invested back into the community as hoped. The are worries that the small town will not be able to meet the increased infrastructure demands - with accessible housing already being a big challenge.
"I do believe it's going to be a game changer, not just for Namibia, but for the African continent," says Kennedy Chege, a researcher and PhD candidate at the Mineral Law in Africa research chair, University of Cape Town.
But he warns that the main challenges is financing: "Trying to develop renewable energy plans normally requires so much funding, and the government itself is not able to actually provide that funding through its budget. So it requires mobilizing funding from both the public sector and the private sectors."
Mr Chege says Namibia's international partnerships are a positive sign.
Another challenge is the amount of water that is required to produce hydrogen. Doing this through desalination, as Namibia plans to, can be expensive - as are the electrolysis processes used later in the hydrogen-making process.
Mr Chege says concerns about the viability of the project and creating the kind of infrastructure needed are valid, but he is hopeful given Namibia's comparative advantages.
While several countries in Africa, like South Africa, Kenya and Nigeria are developing green hydrogen plans, Namibia is the more advanced. "But in terms of implementation, there hasn't been much progress in that regard, throughout Africa."
While there is much to be done, Namibia is pushing ahead - so much so, that the government might announce a call for proposals for a second green hydrogen project as early as January 2022.
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Thermal power plants to be built in capitals of 10 aimags www.montsame.mn

The action program of the government of Mongolia includes an objective to develop new thermal power sources and infrastructure to meet the increasing heat demands of aimag capitals. To achieve the objective, the Ministry of Energy is implementing the MON-14 project funded by a soft loan from the Republic of Korea to build thermal power plants in the capitals of 10 aimags.
The construction works have commenced in the capitals of seven aimags namely Bayankhongor, Gobi-Altai, Gobisumber, Zavkhan, Uvurkhangai, Sukhbaatar and Khentii and the sides signed the project agreement on December 27. The signing ceremony was attended by Minister of Energy N.Tavinbekh, Ambassador of the Republic of Korea to Mongolia Lee Yeo Hong other officials.
The general contractor, Byucksan Engineering, is building the thermal power stations, pipelines, and heat transmission facilities in the aimag capitals in 26 and a half months.
Preparations are underway to begin the construction of thermal power plants in the remaining capitals of the three aimags, namely Arkhangai, Dundgobi, and Tuv, in 2022 and complete the construction in two years.
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Adani set to export coal from Australia’s Carmichael mine after long delay www.mining.com

Indian conglomerate Adani Group said it’s ready to begin the first coal exports from the controversial Carmichael mine in Australia’s Galilee Basin, more than a decade after the group took over the project.
“The first shipment of high-quality coal from the Carmichael mine is being assembled at the North Queensland export terminal in Bowen,” the group run by Indian billionaire Gautam Adani said in a statement.
SIGN UP FOR THE ENERGY DIGEST
The group said it has secured the market for the 10 million tons per annum of coal that will be produced at the Carmichael mine.
The project, proposed in 2010, has become a global emblem for opposition to fossil fuels. It has been impeded by legal challenges and a sustained campaign by climate activists, which has gained strength amid a global retreat from coal. Lenders have backed away from the mine, forcing the company to self-finance it and reduce the size to a sixth of its potential.
One of the biggest markets Adani is counting on is India, where the dirtiest fossil fuel is expected to dominate the energy mix for several years. Coal currently accounts for nearly 70% of India’s power generation, although the country is aiming to gradually reduce that dependence as it builds more renewable energy capacity.
(By Rajesh Kumar Singh)
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Best mining companies awarded www.montsame.mn

The Ministry of Mining and Heavy Industry has held the Best Entrepreneurs of the Year ceremony.
Seven companies have been selected as the Best of the Year. These are:
Best geological and exploration entity: 'Erdenet Mining Corporation’ (EMC)
Best technology introducer: ‘Orica Mongolia’ LLC,
Best rehabilitator: ‘Uuls Zaamar’ LLC,
Best supplier: ‘Mera’ LLC,
Best designer: ‘Royal Range’ LLC,
Best subcontractor: ‘Mongol Mining and Exploration’ LLC,
Best transparent company: local-owned ‘Tavan Tolgoi JSC’
During the award handover ceremony, Minister of Mining and Heavy Industry G.Yondon thanked the miners, who carried the heavy burden of the country in the difficult situation of the COVID-19 pandemic, and emphasized that the 100th anniversary of mining industry will fall next year. He also highlighted that the Government of Mongolia is seeking to further improve the investment environment, having open, liberal policy in the mining industry within the framework of the large-scale policy documents and Constitutional amendments.
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Zijin starts production at giant Tibet copper mine www.mining.com

Zijin Mining on Monday said it had started production at its Qulong copper mine in Tibet, one of the largest in top metals consumer China, adding a new source of supply to the market for next year.
Zijin, a well-known copper and gold producer that is buying Argentina-focused lithium miner Neo Lithium, took control of the Qulong mine around 18 months ago when it bought a 50.1% stake in operator Tibet Julong Copper Co and swiftly resumed construction at the project.
SIGN UP FOR THE COPPER DIGEST
Julong Copper is expected to produce 120,000-130,000 tonnes of copper in 2022, including volumes from Phase 1 of Qulong and the Zhibula mine, which is also in Tibet, Zijin said in a filing to the Hong Kong stock exchange.
“After Phase 1 reaches the designated production capacity, the annual copper production volume will be approximately 160,000 tonnes,” it added.
The tightness in the copper concentrate market seen in recent years is expected to ease in 2022 as more mine production comes on stream. Annual treatment and refining charges (TC/RCs) agreed by miners and smelters have risen for the first time since 2015.
Zijin said Julong Copper had applied to merge the mining rights for the Qulong mine and the adjacent Rongmucuola mine, arguing they belong to the same copper ore body. Following the merger, the mine will be renamed as Julong and Phases 2 and 3 will be pursued, it added.
“If the project obtains the approvals of the relevant governmental authorities, a final mining and processing scale of approximately 200 million tonnes of ores per year can be reached, and it will become the copper mine with the largest mining and processing scale in the world,” Zijin said.
(By Tom Daly; Editing by Emelia Sithole-Matarise)
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