Beren Mining Co., Ltd was established in 2006 as one of the subsidiaries of Beren Group and has started to metallurgy industry of Mongolia.
The iron ore beneficiation (processing) plant of the company, located in the Tuvshruulekh county in Arkhangai province, was built and commissioned in 2007, and the plant has the capacity to manufacture 250,000 metric tons of iron ore concentrates fines (with iron content of 34-67%) annually.
Beren Mining company owns a world class iron ore deposit in the area of Tuvshruulekh soum, Arkhangai province, which is 40 kms to the north of the county center, 20 kms from Ugiinuur county, 420 kms west from Ulaanbaatar. Our company owns 408 hectare land in Tuvrshruulekh soum and the area is directly connected to the high voltage main electricity grid and major cities by paved roads which are very important for expansion of operations.
The company got 9772A special license to explore natural resources and has made exploration and research in south iron plant in Tamir river. Report of exploration has been considered by Mineral Council and resources have been registered as 1805 metric tons of iron ore and 2736.15 metric tons inferred mineral reverse by the 81st decree of Director of Mineral Resource Authority. Besides the iron ore beneficiation plant. We occupy deposit of Khadat Tolgoi, deposit of Ulziit and deposit of Tsenher River which’s total mineral reverse registered as 84.6 thousand tons.
In 2011, feasibility study of plant extension , has the capacity to manufacture 500 metric tons concentration and 300 metric tons direct reduced iron annually, was approved by Mineral Council of Mineral Resource Authority based on mineral reverse of 4.541 metric tons (1805 metric tons -B category and 2 736 metric tons -C category), 4.145 thousand tons of Khadat Tolgoi Deposit and total 8.6 million tons.
The feasibility study has determined durability of plant extension as 10-11 years. During this period, durability is able to be extended by transfer mineral reverse of 4 fields with special license to the plant level.
Recently, consumption of iron has increased as Chinese development of infrastructure and manufacture and price of irony product in World market has rose rapidly. These situations open us opportunities to expand the iron ore plant and to manufacture value added products in Mongolia.
Our company is focusing on the purpose to improve plant capacity and extent process of plant , established in 2007 with the capacity to manufacture 250 metric tons annually, to 500 metric tons in 2014-2018 years. To achieve this purpose, we are planning to raise funds by selling 30% of all shares to the public.
We evaluate to supply a direct reduced iron plant with 84% of the total amount of products and the rest of 16% of product shall be put into domestic and international market. The direct reduced iron plant, shall be built next to the iron beneficiation plant, has a capacity to manufacture 300 metric tons /iron content of 88-92%/ of iron annually and we are planning to turn over products in he domestic and international trade.
Shares of Beren Group Ltd, offered to the public, has been registered by 47th and 418th act of the Financial Regulatory Commission on 15th of February, 2012 and 06th of Nov, 2013 and 163rd act of Mongolian Stock Exchange on 19th of December, 2012
Nominal Price: 157.35 MNT
Total amount of shares: 1 740 813 320
Shares held by founders: 1 218 569 324-70% of total shares
Shares offered to the public: 522 243 996 -30% of total shares
Recommended price for public: 250 MNT
Necessary fund: 130 560 999 000 MNT
Security trading: Stock is sold on the Mongolian Stock Exchange through broker-dealer companies which are members of the Mongolian Stock Exchange.