The USD 1 billion oil refinery is planned to be commissioned in the first quarter of 2023, according to the Ministry of Mining and Heavy Industry.

Currently, infrastructure work such as construction of railway, road and power transmission lines are 50 percent complete. The construction is closed since the end of December and will start in March. It is planned to complete the third quarter of 2019. After the construction of a plant, the average cost per liter of oil is estimated to be USD 0.348 (34 cents) or about MNT 850.

In addition, the copper concentrate processing plant is planned to be constructed in Khanbogd soum of Umnugobi province. In December, the Cabinet decided to use 466 hectares of land in Khanbogd soum for special needs of the Government. The plant will have capacity to produce 257 thousand tons of pure copper per year, and sales income will amount to USD 1.9-2 billion per year, according to official sources.

The Ministry of Mining and Heavy Industry is working to prepare the feasibility study of the gold refining plant. The Ministry of Mining and Heavy Industry reported that the pilot plant for uranium mining of ‘Uran Energy’, the joint venture of ‘Orano’ LLC and ‘Mon Atom’ LLC which is a subsidiary of state-owned ‘Erdenes Mongol’ LLC, has launched. ‘Uran Energy’ LLC is responsible for the projects of Zuuvch-Ovoo and Dulaan-Uul uranium deposits of Zuunbayan bag, Dornogobi province. For the private sector, the coal washing plant of ‘Usukh Zoos’ LLC is being commissioned in July, 2019.

Source: BloombergTv.mn