Erdenet Mining Corporation to cooperate with Chile's Codelco

Economy | Mining
2017-04-18 14:52:11
Ulaanbaatar /MONTSAME/ 'Erdenet Mining Corporation' the largest copper and molybdenum ore mining and concentration plant of Mongolia will develop cooperation with Codelco Company, the world’s top copper producer of the Republic of Chile. On April 11, General Director of Erdenet Mining Corporation Kh.Badamsuren and President of Codelco Company Nelson Pizarro Contador signed a memorandum of cooperation.
The sides agreed to exchange information on operations of copper and molybdenum processing, market, financing and development, to share their best practices and pay reciprocal visits. The state-owned Codelco Company produces 1.8 million tons of copper annually. Codelco has 19 per cent of the world's copper reserves. At the current production rate, its mining operations have an estimated useful life of 65 years.