Erdenet Mining Corporation

The city was built in 1974 to exploit Asia's largest deposit of copper ore and has the fourth largest copper mine in the world. The "Erdenet Mining Corporation" is a joint Mongolian-Russian venture, and accounts for a majority of Mongolia's hard currency income. Erdenet mines 22.23 million tons of ore per year, producing 126,700 tons of copper and 1954 tons of molybdenum.[12] The mine accounts for 13.5% of Mongolia's GDP and 7% of tax revenue.[13] About 8.000 people are employed in the mine[14].