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The "Mongolrostsvetmet" and "Erdenet" will be a new shareholder

Russian-Mongolian joint ventures «Mongolrostsvetmet» and «Erdenet» gained a new shareholder. They became «Rostec» because the Russian side claims. In recent years, we observed with managerial control problems. Here, non-payment of the 2012 dividend in the amount of 47 mln. USD. There are other issues to be addressed. «Rostec» JV plans to improve the management body. The Russian corporation does not preclude the withdrawal proportion of production owned by R. F. However, this will require an agreement with the producers of copper in Russia.

49% of the shares «Mongolrostsvetmet» and «Erdenet» were obtained «Rostec» back in 2008. Corporation representatives took place in the management and the board of directors in 2009. It was only in October 2015 by the Mongolian parliament has ratified the change. «Mongolrostsvetmet» focused on the extraction and processing of gold, fluorspar, iron ore. «Erdenet» produces copper and molybdenum. The production capacity of the ore processing is 26 mln. Tons / year. In this case the smelting of copper concentrate reached 530,000 tons, molybdenum — 4,5 thousand tons. In 2014, revenues reached 800 million. USD.

In March, at the Chamber of Accounts, a number of questions to the «Erdenet». Dividends in the amount of 47 mln. USD per 2012 have not been received by the Russian side. Targets for the processing of ore — 35 million tons / year -. Have not been achieved. Mongolian part of the Council to take decisions without coordinating them with Russian officials. In 2014−2015 gg. Mongolian copper supplies in Russia and the countries of the ECE was not observed. Moreover, Russia can count on 50% of production «Erdenet». There is not one script interaction. Consider and sale of copper concentrate to Russian enterprises.

Sergei Chemezov, the head of «Rostec» sees the complexity of the situation, given the situation on the markets. However, hopes for improvement by the new strategy. It includes updates of the management team. The main burden will fall on the item at the «Norilsk Nickel» and «Rusal». And changes will begin at the level of heads of departments. Also, representatives of «Rostec» negotiate for dividends, trying to resolve the situation.

Ore «Edernet» has reached 29 million. Tons. By 2018, the planned volumes will amount to 32 mln. Tons. By 2025 — 40 mln. Tons. This investment size is not specified.

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