Erdenet Mine is one of the biggest copper mines in Mongolia. Located right next to Erdenet City, Orkhon province, the mine was discovered in result of an expedition work done by Mongolia-Czechoslovakia research team during 1964-1968. And in 1973, an agreement to build the Erdenet Mining Corporation as well as the Erdenet City was made between Mongolia and USSR. Then the mining corporation was built in 1978 and the first concentrate was produced.
Mongolia, overall, has about 36.3 million tons of copper reserve and over 4.6 million of that is in Erdenet Mine. However, recently, a new research found more copper reserve near the mine and the total resource of copper went up by three million. Today, Erdenet Mining Corporation is producing around 530,000 tons of copper concentrate per year.
Previously, the Erdenet Mining Corporation had a shared ownership between Russia and Mongolia but the Mongolian Copper Corporation has bought the Russian share, which is 51%, in 2016 and now the Erdenet Mine has 100% Mongolian ownership.
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