IRON PROCESSING INDUSTRY WILL BE IN FOCUS

Ulaanbaatar /MONTSAME/ According to this month’s "Transparent Mining" media release by the Ministry of Mining, its authorities unanimously suggested that the iron producers should focus on maintaining the prices at a reasonable level by pursuing an integral policy, "because the mining companies and iron-ore processing plants are facing financial difficulties recently due to serious declines in iron ore and concentrate prices in China and global market". A delegation headed by the Minister of Mining R.Jigjid visited this May 16-17 "Erdenet Metallurgical Plant Complex" near Erdenet city, also the wet-concentrate processing plant at "Darkhan Metallurgical Plant" state-owned company for processing ores from "Bayangol" and "Tomortei River" iron ore deposits located in Eroo and Khuder soums of Selenge aimag. In maintaining the metal prices, a project on Mineral Resources Exchange, initiated by the Ministry of Mining, will play an important role, the officials said. A working group has been formed in charge of running studies on establishing the Exchange and developing a draft resolution.