Erdene Announces Strategic Alliance with Mongolian Mining Corporation


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Discovering treasures - Sharing benefits

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Next: Khundii Minerals District

Pioneers in an Unexplored Portion of One of the World’s Great Gold Belts

Establishing a new high-grade minerals district

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Next: Bayan Khundii Project

High-grade, Open-pit Deposit at Feasibility Stage


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  • Growth Strategy

    Erdene is the leading explorer in an untested portion of the prolific Central Asia Orogenic Belt (CAOB), host to some of the world’s largest gold and copper-gold deposits. We have discovered multiple gold and base metals deposits and prospects within our 170km2 Khundii Gold District.

    Our two-prong strategy is to create value by advancing the Bayan Khundii Gold Project towards development, while expanding high-grade gold resources through aggressive exploration in the Khundii Gold District. We are targeting total resources of over 2 million ounces of gold within the Khundii Gold District by the end of 2022.

    Our Discovery

    To date Erdene has discovered two gold deposits, Bayan Khundii and Altan Nar, and multiple prospects, including Dark Horse, Ulaan and Altan Arrow within its Khundii Gold District.

    Over the past decade, Erdene has built the largest proprietary geological database of the region, which combined with its proven, systematic approach to exploration positions the Company for continued exploration success in this emerging gold district. 

  • The Anchor to Develop the Wider Gold District

    The Bayan Khundii Gold Project is a high-grade (3.7 g/t), open-pit development that will produce an average of 63,500 ounces of gold annually employing conventional, capital efficient processing methods.  Erdene plans to deliver the first gold in 2023.


    Bayan Khundii Production Strategy

    The Bankable Feasibility Study (Full study) completed in mid-2020 outlined a Net Present Value using a 5% (NPV5%) discount rate of US$100 million, an Internal Rate of Return (IRR) of 44%, and  a payback period of less than two years, using a $1,400/ounce gold price.  At current gold prices of approximately $1,800/ounce, the Project’s NPV5% rises to US$216 million and the IRR increases to 77%.

  • Maximizing Positive Impacts

    The Bayan Khundii Gold Project is expected to contribute over C$60 million in taxes and royalties to the Government of Mongolia and create over 300 new jobs at the mine site. 

    Erdene is the first company to cross-list on the Mongolian Stock Exchange, attracting over 6,000 Mongolian shareholders. We strive to share value with all stakeholders through mutual responsibility, participation and transparency. 


    Environmentally Conscious

    We are committed to sustainable development, including systematic, proactive management of environmental risks.  Erdene plans to reduce its environmental footprint by committing to a process plant designed to recycle 85% of water consumption and integrate the mine and plant waste in a dry-stack tailing facility. 

Publicly Available Reports

  • How We Create Value in Rural Communities

    Based on the Bayan Khundii Gold Project, the University of British Columbia explored ways to maximize the benefits of resource development for communities and create shared value by working collaboratively with local stakeholders

  • How We Plan to Reduce Environmental Footprint

    We will be the first mining company in Mongolia to use solar power generation and our operation incorporates an integrated waste facility (“IWF”) to reduce the environmental footprint. 

  • Bayan Khundii Gold Project Feasibility Study

    The Bayan Khundii Gold Project Feasibility study outlines the technical and economic attributes of the Bayan Khundii project. The Feasibility Study was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and was completed by a consortium of independent International and local firms with significant experience in Mongolia.

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