Samsung Corp. has announced it will develop a copper mine in Mongolia jointly with Korea Resources Corp.Samsung said it has established a consortium with Korea Resources to develop the Erdenet copper mine located 230 kilometres northwest of Ulan Bator.
The Korean consortium has bought a 51 percent stake in the Mongolian mine. Samsung controls a 51 percent stake in the consortium with the state-run corporation holding the remainder.
The project is expected to cost $100 million.
