State-owned 'Erdenes Mongol' LLC and the 'Mongolyn Alt Corporation' (MAK) have established a joint company named “Erdenes Ashid”. The new venture, which came into being with the signing an agreement on 13th of February, will focus on geological exploration.
The joint company will also conduct assessments, detailed studies, and manage and operate the concentrate plants and other facilities based on the mineral deposits.
‘Erdenes Mongol’ executive Ts.Tumentsogt said ‘Mongolia has large scale mineral resources, which haven’t been explored. Creating this company enables our state-owned company to collaborate with MAK, which has abundant expertise in mining exploration and geology”.
In 2016, 'Erdenes Mongol' and ‘New Shivee’ established a joint company named “Erdenes Shivee Energy” to work on the Shivee-Ovoo coal deposit.
'MAK' is engaged in a wide range of mining activities from geological exploration, mineral processing to final production.