Government to study options for gold refinery plantPolitics
Ulaanbaatar /MONTSAME/. The Cabinet today at its regular session assigned relevant ministers, heads of agencies and other officials to study and report back the possibilities to build a gold refinery with the investment from domestic and foreign sources.
During his visit to Kazakhstan last year, Prime Minister U.Khurelsukh signed an agreement to build a gold and silver refinery plant with the government of Kazakhstan. Necessary investment for the plant is estimated at USD 81.9 million and the Kazakh side has agreed to invest the patent costs of USD 30 million.
The gold refinery will hold an annual capacity of processing 50 tons of gold and 25 tons of silver.
Also at the meeting, the Cabinet discussed an issue of increasing the installed capacity of the Third Thermal Power Plant in Ulaanbaatar city by an additional 250 MWt power and decided to submit the issue to the National Security Council headed by the President to receive recommendation.
The project, which is deemed to eliminate the operational costs of the power plant, will not only tackle the shortage of the power plant’s generation system, but also to reduce the harmful pollutants emitting from the plant.