Management changes delay copper deliveries from Mongolia’s Erdenet but output goes on

Deliveries of copper concentrate from Mongolia’s Erdenet mine were disrupted in early March after several top managers were dismissed in a restructuring program ordered by the country’s government, although production continued as normal, Fastmarkets has learned.

The Erdenet mine produces 530,000 tonnes per year of ores and is one of Asia’s biggest copper and molybdenum mines. Erdenet is known as ‘treasure’ in the Mongolian language. The mine was fully nationalized in February 2017, after the country’s government ruled that the purchase by Mongolian Copper Corp (MCC) of a 49% stake, formerly held by Russia, was illegal. In early March, MCC director Ts Purevtuvshin was detained because of allegations related to illegal purchases of national assets and money laundering, but was released the next...

Published

Anna Xu

Archie Hunter

Julian Luk

March 21, 2019

16:45 GMT

Shanghai, London