Erdenet mining corporation (emc or erdenet) was established in accordance with an agreement between governments of mongolia and (former) soviet union. It started its operation in 1978. The main mineral deposit, extracted by the corporation was the erdenetiin-ovoo area which locates 400 kilometers northwest from ulaanbaatar, the capital city of mongolia.Corporation&＃39;s operation includes prospecting, mining, mineral processing and sales. It has a modern technology and telecommunication network and high qualified staff.Emc is a mongolian-russian joint venture,51% of shares is owned by the state property committee of mongolian government and 49% of shares is owned by the russian government. Both shareholders has an equal representatives in the 14-member board of directors, charged with overall responsibility for the strategic decisions of the corporation.