Minister of Industry D.Erdenebat received the President and CEO of  Oyu Tolgoi, Andrew Woodley, today.

At the beginning of the meeting, Woodley expressed his views on the decreasing prices of raw materials for mineral resources in the global market, but noted that although prices are due to decrease,  it is possible to seem them increase at mid-level pricing.

He mentioned that in recent years, the procurement of goods to Oyu Tolgoi LLC has been mostly been handled by Mongolian companies, and 50 percent of OT's supply procurement was from domestic producers.

The President and CEO of Oyu Tolgoi stressed that it is possible to increase the procurement of domestic supplies.

The Minister of Industry noted that the Ministry of Industry has revised the state policy document to be adhered to in the industrial sector and submitted it for approval by the Parliament.  

The policy paper addresses how to resolve the issues of heavy industry in the future. 

The Minister stressed that the policy document covers establishing a copper melting factory. Woodley said that the company is following the issue closely. OT's first copper concentrate was exported in July 2013, and since that time, the total amount of exported copper has reached one million tons.    

Last year the company has paid 250 million USD in taxes and fees, and procurement expenses of 300 million USD were paid to domestic producers.