ASGAT SILVER DEPOSIT WILL BE EXPLOITED BY JOINT COMPANY

Ulaanbaatar /MONTSAME/ Executive director of “Erdenes Mongol” state-owned company O.Sainbuyan said Wednesday that an entity will be created to exploit the Asgat silver deposit, one of our strategic mineral deposits. The memo on the entity is to be signed by the “Erdenes Mongol” and the Russian “RosTec” state corporation, he added. The licenses of the Asgat deposit are owned by a “MongolRosTsvetmet” joint venture. It is considered rather convenient approach of exploiting the reserves, to form a joint company 51 percent of which belongs to Mongolia, and 49 percent to Russia. "Establishing the entity owning the exploiting license of the deposit will determine the ‘game rules'," said the director. According to him, the feasibility studies and financing for the deposit will commence after the establishment of the new company. The reserves of Asgat have been estimated at 7,300 tonnes.