Erdenes Mongol LLC, Erdenes Silver Resources (ESR) and Bank of Mongolia (BoM) have conclud-ed a sale and purchase agreement for precious metals yesterday and sent a sample of the refined silver from the Salkhit silver deposit to the State Treasury.Within the five-year agree-ment, ESR will extract pure silver, which is worth USD 500 million Fx reserves in cash, and send the silver from the Salkhit Silver Deposit to the Treasury Bank of the Treasury. As a start, the BoM will receive a silver with a price of at least 850-980 specimens.“The recently adopted Constitu-tion amendment has begun to take effect, making an opportunity to
the people for equal access. Fur-thermore, the agreement signed between Erdenes Silver Resources and the Bank of Mongolia will re-sult in major treasury management activities, including pledging gold and silver bonds,” said Parliament Speaker, Zandanshatar Gonbojav in the signing ceremony.

Published Date:2019-12-26