Erdenet (, literally "with treasure") is the third-largest city in Mongolia, with a 2018 population of 98,045, and the capital of the aimag (province) of Orkhon. Located in the northern part of the country, it lies in a valley between the Selenge and Orkhon rivers about (as the crow flies) northwest of Ulaanbaatar, Darkhan, the capital. The road length between Ulaanbaatar and Erdenet is about . History Erdenet, one of the youngest settlements in Mongolia, was founded in 1974 in an area where large deposits of copper had been discovered in the 1950s. A single-track railway line with a length of linking Erdenet to the Trans-Mongolian Railway was inaugurated in 1977. In the middle of the 1980s, more than 50% of the inhabitants were Russians working as engineers or miners. After the fall of Soviet Communism in 1990, however, most Russians left Erdenet. Today, about 10% of the population is Russian. Erdenet Mining Corporation The city hosts the fourth largest copper mine in the world. The Erdenet Mining Corporation is a joint Mongolian-Russian venture, and accounts for a majority of Mongolia's hard currency income. Erdenet mines 22.23 million tons of ore per year, producing 126,700 tons of copper and 1,954 tons of molybdenum. The mine accounts for 13.5% of Mongolia's GDP and 7% of tax revenue. About 8,000 people are employed in the mine. Infrastructure Erdenet is linked to Ulaanbaatar, the capital of Mongolia, and to the towns of Darkhan and Bulgan by a paved road and is easily accessible by bus several times each day. The distance to the capital where the nearest airport is situated amounts to and travel by car takes about eight hours. Train connections between Erdenet and Ulaanbaatar are less comfortable as there is only one train per day covering the distance in 11 hours. Sights Tourists are allowed to visit the mine by appointment. It is in the eastern part of the city, about from the centre. Another important economic factor of Erdenet is the carpet factory about from the center to the east which was founded in 1981. Every year, about 2,000 tons of wool are processed in the factory where about 1,100 people are employed. The Mining Museum, in the Culture Palace on the central town square. The Aimag Museum was founded in 1983. The Fraternity Monument dating from 1984 is on a hill offering a scenic view of the whole city