GOVERNMENT OF MONGOLIA IS RESOLVED TO ESTABLISH AN EXTERNAL MONITORING LABORATORY ON COPPER AND GOLD CONCENTRATES
Home pageGovernment of Mongolia is resolved to establish an external monitoring laboratory on copper and gold concentrates
At the Cabinet meeting held on Saturday, February 02, it was resolved to establish an external monitoring laboratory on copper and gold concentrates being excavated to export from the Tavan Tolgoi site.
The laboratory will be functioning to analyze and monitor on samples and other tests affiliated the Central Geological Laboratory, the state-owned factory of Mongolia. Government authorities deem by affiliating the factory, which is operational in purpose-built facility that equipped with latest supplies and the only operative factory conducting a control assay on minerals delivered from across the country, would save the state budget to avoid building a new laboratory with coincided service.
In order to run the strategically important big copper and gold Oyu Tolgoi mine into business cycle, the Government of Mongolia and its special license owner have established the Oyu Tolgoi Investment Agreement that was signed on October 06, 2009. The Agreement is effective starting from March 31, 2010, following in November 2012 a temporary power purchase agreement was established with China to supply the mine with power that Oyu Tolgoi LLC is on course for commercial production in the first half of 2013.
Thereby, in accordance with starting the copper concentrate export, an external monitoring laboratory on copper and gold concentrates’ samples is required on behalf of Mongolia that would also able to determine further on other minerals’ contents, evaluations and monitoring confirmations. Moreover, it enables to control the export volume of concentrates, besides to determine the sale revenue, its income from tax and dividend yield.