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Mongolia|economy|October 14, 2019 / 01:48 PM
Mongolia, Kazakhstan to build gold and silver refining plant

AKIPRESS.COM - Mongolia and Kazakhstan established an agreement on building and commissioning a gold and silver refining plant during a Mongolia-Kazakhstan Business Forum held on October 11 in Nur-Sultan, Montsame reported.

The Kazakhstan side will introduce its technology of gold and silver refining into Mongolia free of charge. The patent costs $30 million.

Minister of Mining and Heavy Industry of Mongolia Dolgorsürengiin Sumiyabazar said “The Kazakhstan side will render support on technology and human resource to build and operate the plant. In connection with commissioning the plant, we are preparing to submit a draft law on Precious Stones and Metals. By adopting the law, conditions will be created for not only processing gold and silver at home but also promoting jewelry manufacturing.”

The gold and silver refining plant will be erected with $81.7 million and will process seven to eight types of other elements besides refining 25 tons of gold and 50 tons of silver a year.

Eight cooperation agreements and memorandums worth about $200 million were signed during the Mongolia-Kazakhstan Business Forum.

Chairman of the Mongolian National Chamber of Commerce and Industry O.Amartuvshin said that the parties signed agreements on collaborating in mining, transport and logistics, agriculture and medical technology fields. "Furthermore, we are opening a short path to export products to Europe and the Middle East, operating direct flight from Mongolia to Kazakhstan and developing air cargo. It enables to deliver agricultural products especially mutton by air transport to the countries of the Middle East passing through Kazakhstan. In addition, refining gold at home will bring many advantages.

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