July 25, 2008

Gazprom may get Russia\'s share in Erdenet

FIS reported that Gazprombank may be transferred Russia's 49% shareholding in the joint venture Erdenet which produces 25 million tonnes of ore every year and makes copper and molybdenum concentrate from it.

In 2007 Erdenet's revenues from the sale of its products amounted to USD1.4 billion. Earlier the state owned Rosstekhnologii was called a candidate for obtaining Russia's share in Erdenet, which could be the source of molybdenum concentrate used in special steels production at Russpetsstal, the member of Rostekhnologii.