FLSmidth's increased presence in Mongolia starts delivering

FLSmidth & Co. A/S (OMX: FLS) Minerals Segment was awarded a major contract from Mongolia for a 600,000 tonnes per day greenfield copper concentrator. The order was made by a local company Mongolyn Alt (MAK), which has traditionally been active in coal mining with three coal mines in operation and is now diversifying into copper with an open pit copper mine for Tsagaan Suvarga copper & molybdenum project 560 kilometres southeast of Ulaanbaatar.

Knelson-Deswik fine grinding mill will be used for concentrate re-grind. The value of this order is approximately 600 million DKK (around 77 million Euros). Mongolia is an emerging minerals nation with plenty of unutilized resources available and this order is a major breakthrough for FLSmidth, which has recently opened an office in Ulaanbaatar and is planning to start a Super Center in the South Gobi desert to support both Minerals and Cement business units of FLSdmith. The stock was up nearly 1% on the day going into Christmas holidays.