CHINA'S NFC SELECTED AS INVESTOR FOR COPPER SMELTER PROJECT

T. Byambanaran

The Government of Mongolia has announced that China's Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC) has been selected as the investor and strategic partner for the project to establish a copper concentrate smelting and processing plant based on Erdenet Mining Corporation. The project aims to build a facility for smelting and processing copper concentrate at the Erdenet complex.

A total of 13 companies and consortiums from seven countries, including Switzerland’s Glencore and China’s Jiangxi Copper, submitted bids for the tender.

Following a two-stage selection process, NFC was chosen as the successful investor and partner for the project.

According to the Government, the company has extensive experience in the design and construction of copper smelters, having participated in projects that account for 35% of the world's copper smelting capacity and 70% of China's copper smelting capacity.

The Government also stated that the company is globally competitive, with a strong track record in mining development, engineering, investment, extraction, mineral processing, plant operations, and serving as an EPC (Engineering, Procurement, and Construction) general contractor for large-scale industrial projects.

According to the preliminary feasibility study, the copper smelter is expected to be built within two years with an investment of more than US$700 million.

The Government also emphasized that the project will enable the processing of copper concentrate produced by Erdenet Mining Corporation and the annual production of 120,000 tonnes of refined copper.