NEWS FROM ERDENET

Ulaanbaatar, Mongolia /MONTSAME/ Basic and tariff salaries for all workers of the Erdenet Mining Corporation were increased by 20 per cent on the very first day of this year. An order to do so has been given by the corporation's Director-general. Before this pay rise, an average salary stood at MNT 1.4 million which was, in its turn, higher of that of Mongolian miners. ** ** ** A concentrating shop at the Corporation processed 26.1 million tons ore in 2011, reflecting the highest ever result. In addition to it, the shop overfulfilled the plan of taking copper and molybdenum. As considered, these achievements are directly related to a technical renovation made last year. The corporation installed a new pump in the waste-processing shop, renewed the 4th section of flotation concentration, put into use a pressure filter for molybdenum concentration. The corporation is now available to process 35 million tons ore per year. ** ** ** The Corporation has named its highlight events of 2011. One of them is that four workers became the State Prize Holders by a decree of the President Ts.Elbegdorj. The corporation also received last year a prize of the best entities of the world announced by the Europe Business Assembly (EBA). This prize was handed to the corporation's officials at the International Consultation of Mining and Energy Ministers in London last year. In 2011, the corporation's income reached MNT 1.2 trillion, the net revenue is expected to reach MNT 280 billion. This is the highest of the corporation ever in history. Also, the corporation has started a construction of internationally-accepted diagnosis-and- treatment center. The erection, being performed by "Himon Construction" LLC, is supposed to finish this June. On occasion of the 35th anniversary of Erdenet city, the corporation constructed a 9,600-seat stadium, the biggest in localities, and made a 21-meter high metal statue of Buddha. The Erdenet Mining Corporation has been named as one of the top enterprisers of Mongolia, for the 11 times. B.Khuder