Zarubezhgeologiya JSC in Mongolia will be engaged in exploration of mineral resources for Erdenet GOK

Today, December 3, JSC “Rosgeology” signed a three-year agreement on # nbsp; the implementation of a complex of geological and geophysical and # nbsp; engineering and geological studies to build up the mineral resource base of the Erdenet Mining and Processing Plant (GOK) in Mongolia.
Signatures to the agreement in the presence of the Prime Minister of the Russian Federation # nbsp; Dmitry Medvedev # nbsp; and the Prime Minister of Mongolia # nbsp; Ukhnaagiin Khurelsukha # nbsp; were put by the general director and chairman of the board of Rosgeology # nbsp; Sergey Gorkov # nbsp; and the general director of Erdenet Enterprises   Hoohorin Badamsuren.
“The signed agreement is the first step in the practical implementation of the Agreement on cooperation in the field of geological exploration of the mineral resources of Mongolia, signed in September this year,” said Sergei Gorkov. “We see great prospects for the implementation of other projects in Mongolia, taking into account the high potential of the country's mineral and raw materials base and the extensive competencies of Rosgeology in the integrated geological study of the subsoil using modern methods and technologies.”
In accordance with the agreement, specialists from Rosgeology will carry out a series of geological exploration, including analysis of geological and geophysical data along the ore corridor with a refinement of the geological and structural 3D model and metallogenic forecast, geophysical studies in the deposit and adjacent territories to search for deep ore objects. Under the agreement, it is also planned to carry out engineering and geological surveys and assess technogenic formations of mining and metallurgical production.

As reported by # nbsp; EADaily, in September during the visit of the President of the Russian Federation # nbsp; Vladimir Putin # nbsp; to Mongolia, Rosgeologiya and the Agency for Minerals and Oil of Mongolia signed an agreement on cooperation in the field of mineral resources. It identified the main areas, among which - exploration for the identification of oil and gas, solid minerals, the reproduction of mineral resources of base, precious and rare metals, construction and technological materials, agrochemical raw materials.
Note: geological exploration of the Erdenetiin-ovoo copper-molybdenum ore deposit in Mongolia began in the late 1950s. The first stage of Erdenet GOK was launched in 1978. At present, Erdenet is one of the largest enterprises in Asia for the extraction and enrichment of copper and molybdenum. The mining and processing enterprise processes 26 million tons of ore, produces about 530 thousand tons of copper and about 4.5 thousand tons of molybdenum concentrate per year.
Until 1992, Erdenet GOK was a Soviet-Mongolian joint venture (the share of the USSR - 51%), until 2016 - a Mongolian-Russian joint venture (the share of Russia - 49%). Now it is a completely Mongolian company.
It should be noted that in early March 2019, in Mongolia, members of the Criminal Police and Anti-Corruption Department detained the chairman of the Board of Representative Management of the Bank for Trade and Development # nbsp; D. # nbsp; Erdenabileg, the executive director of this bank # nbsp; O. # nbsp; Orkhon   and Executive Director of Mongolian Copper Corporation   C. # nbsp; Purevtuvshin. All of them were interrogated in the case of a 49% stake in Erdenet GOK, which in 2016 were sold by the Russian corporation Rostekhnologii to a Mongolian company, which, as it turned out, turned out to be a one-day shell company.