3,382.96
The Shareholders’Committee in the three Mongolia-Russia joint ventures — Ulaanbaatar Railway,
Mongolrostsvetmet and Erdenet Copper — held its annual meeting on May 19. It
reviewed last year’s work in the three units, the activity plan for 2011, and
also discussed projections for 2012.
It is believed that there was serious difference of opinion on what the
Mongolrostsvetmet report said about exploitation of the Asgat and Bargilt
deposits. The Russians insisted on mining to start even without Mongolian participation.
Since that would lead to serious problems, as Mongolia holds 51% of the shares,
it was decided to make a further study of the exploitation prospects of Asgat
and Bargilt deposits.
