Source: The Mongolian Mining Journal             Date: 15 June, 2011

Mr. Nyamtaishir, President of Mongolyn Alt Corporation (MAK), and Mr. Dieter Gessner, Vice President of Bucyrus, recently signed an agreement under which MAK will purchase nine excavators at a total cost of 38,660,683 euro from Bucyrus. The ceremony to mark the signing of the agreement was attended by, among others, Mr. Bernd Pfaffenbach, State Secretary of Germany's Federal Ministry of Economics and Technology, Mr. Pius Fischer, German ambassador in Mongolia, and senior officials at the Mongolian Ministry of Mineral Resources and Energy. The agreement is yet another example of how private sector firms in Germany and Mongolia are increasing their cooperation. Mongolyn Alt has indicated that it will purchase more machinery and equipment from Germany as it expands in the coming years.

MAK last year exported five million tons of coal from the Nariinsukhait mine of South Gobi province, setting a record. It has set its export target at seven million tons this year and also plans to start operations at its Tsagaan Suvarga copper-gold deposit. To reach both ambitious goals, the company must update its excavating techniques and use more advanced equipment.