Erdene Resource Development Corporation has achieved a significant milestone with the successful gold pour from its Bayan Khundii mine in Mongolia, marking the beginning of production on September 14, 2025. This event comes just ten years after the initial discovery of high-grade gold at the site and only 22 months after construction began, underscoring the rapid progression of the project.
Peter Akerley, President and CEO of Erdene, expressed pride in the team’s accomplishment, highlighting that Bayan Khundii has quickly established itself as an important mine and a cornerstone for growth within the Khundii Minerals District. The company has constructed a 242-kilometer power line and completed commissioning of the process plant, facilitating the swift transition from development to production.
The mine is projected to be among the highest-grade open-pit gold mines in the world, with forecasts suggesting an annual production of about 85,000 ounces of gold at a competitive cost. Akerley noted that gold produced from Bayan Khundii will be sold to Mongolia’s Central Bank at spot prices, contributing to the nation’s foreign reserves and playing a crucial role in the country’s economic stability.
In his remarks, Akerley acknowledged the support from employees, contractors, investors, and the strategic partnership with Mongolia Mining Corporation, emphasizing their collective contribution to reaching this pivotal moment.
The significance of the mine was further emphasized by the attendance of H.E. Stephen Doust, Canada’s Ambassador Designate to Mongolia, during the opening ceremony. Doust described the Bayan Khundii Gold Mine as a milestone in the partnership between Canada and Mongolia, noting the long-standing commitment of Canadian investors and potential for collaboration. He praised Erdene for its commitment to local communities and expressed admiration for Akerley’s leadership.
Located within the Khundii Minerals District, Bayan Khundii boasts total gold reserves of approximately 513,700 ounces at an average head grade of 4.0 grams per tonne. This district also includes other promising deposits such as Dark Horse and Altan Nar. As one of Mongolia’s leading exploration companies, Erdene continues to prioritize exploration efforts to extend the mine’s life and bring additional deposits into production.
Erdene Resource Development Corp. is recognized for its low-cost, high-grade gold production in Mongolia, holding a portfolio of precious and base metal projects in proximity to the Bayan Khundii site. The company is listed on the Toronto Stock Exchange, the Mongolian Stock Exchange, and the OTCQB Venture Market.
As the company looks forward to expanding its operations in the Khundii Minerals District, it also acknowledges the inherent risks and unpredictability associated with forward-looking statements, emphasizing the importance of third-party approvals and market conditions in ensuring continued success.
