Ulaanbaatar, August 11, 2023 /MONTSAME/. In the first half of this year, Erdenet Plant, the state-owned enterprise fulfilled the plan of the main productions by up to 113.9 percent, highlighted General Director G. Yondon, when he presented the activity report of Erdenet Plant to the Management and Board of Directors of Erdenes Mongolia LLC.

Specifically:

• The plant processed 19.5 million tons of ore, implementing the plan 100.0 percent,

• Produced 302.7 thousand tons of copper concentrate, 101.6 percent implementation of the plan,

• Produced 2.97 thousand tons of molybdenum concentrate, 113.9 percent implementation of the plan.

The Management and Board of Directors of Erdenes Mongolia LLC, a group of state-owned mining companies, worked at Erdenet Plant recently and discussed the first half-year 2023 activity report and pressing issues of the plant.

General Director G. Yondon reported on industrial production, basic economic indicators, investment, project implementation, procurement, human resources, social responsibility, occupational health and safety, environment, and green development activities. He also provided detailed reports on the implementation of resolutions, and decisions of the Government of Mongolia, State Property Policy and Regulation Department, and Erdenes Mongolia LLC.

Although the main production plans were fulfilled in the first half of the year, General Director G. Yondon emphasized in his report that there are many problems related to the current state of Erdenet Plant's operations, construction, investment, projects and programs, and proposed solutions, which were submitted to the management team of Erdenes Mongolia. For example:

• Royalty calculation of additional elements of copper and molybdenum concentrate produced by Erdenet Plant creates "unreasonable additional costs",

• Royalty payment is calculated with a large difference,

• Solution of the remaining financing for the extension of the treatment plant,

• Supply the produced energy at a price lower than its cost and buy it at a higher price,

• Difficulties in purchasing relevant equipment in accordance with the technical policy of the factory,

• The contractor of "Urkhaichin-2" District, Urgoo Khaan Construction LLC, failed to fulfill contractual obligations causing detriment to 319 employees who ordered apartments.

During the meeting, the CEO of Erdenes Mongolia LLC S. Narantsogt pointed out that the Management and Board of Directors of Erdenes Mongolia LLC will inquire about the first half-year report of Erdenet Plant and the pressing issues that cause difficulties, clarify details, exchange opinions, and come up with concrete solutions.