In First Half of 2023 Erdenet Plant Processes 19.5 Million Tons of Ore www.montsame.mn
The Management and Board of Directors of Erdenes Mongolia LLC, a group of state-owned mining companies, worked at Erdenet Plant and discussed the first half-year 2023 activity report of the plant.
General Director G. Yondon presented the activity report of Erdenet Plant state-owned enterprise for the first half of 2023. He reported on industrial production, basic economic indicators, investment, project implementation, procurement, human resources, social responsibility, occupational health and safety, environment and green development activities.
He also provided detailed information about the implementation of resolutions, decisions and planned indicators of the Government of Mongolia, State Property Policy and Regulation Department, and Erdenes Mongolia LLC.
In the first half of this year, Erdenet Plant fulfilled the plan of the main key indicators of production by 100.0-113.9 percent. Specifically:
• Processed ore 19.5 million tons, 100.0 percent implemenation of the plan,
• Produced 302.7 thousand tons of copper concentrate, 101.6 percent implemenation of the plan,
• Produced 2.97 thousand tons of molybdenum concentrate, 113.9 percent implemenation of the plan.
Although the main production and economic indicators and plans have been implemented in the first half of the year, General Director G. Yondon emphasized in his report that there are many problems related to the current state of Erdenet Plant's operations, construction, investment activities, projects and programs, and proposed solutions, which were submitted to the management team of Erdenes Mongolia. For example:
• Royalty calculation of additional elements of copper and molybdenum concentrate produced by Erdenet Plant creates "unreasonable additional costs",
• Royalty payment is calculated with a large difference,
• Solution of the remaining financing for the extension of the treatment plant,
• Supply the produced energy at a price lower than its cost and buy it at a higher price,
• Difficulties in purchasing relevant equipment in accordance with the technical policy of the factory,
• The contractor of "Urkhaichin-2" District, Urgoo Khaan Construction LLC, failed to fullfil contractual obligations causing detriment to 319 employees who ordered apartments.
During the meeting, CEO of Erdenes Mongolia LLC S. Narantsogt pointed out that the Management and Board of Directors of Erdenes Mongolia LLC will inquire about the first half-year report of Erdenet Plant and the pressing issues that cause difficulties, clarify details, exchange opinions and come up with concrete solutions.
Published Date:2023-08-13