Mongold is a Mongolian-domiciled gold mining and exploration company having a presence here since 2011
Mongold is a Mongolian-domiciled gold mining and exploration company established in 2010 by Andrew Danenza and Jamie Reuben. Since entering the Mongolian gold sector, Mongold has been able to repeatedly increase its valuation. Mongold took over management of its flagship gold mine in mid-2014 and completely redeveloped the associated facilities to international standards and installed a plant with the capacity to process 43,800 tonnes of ore annually. The project began producing gold in February 2016. By progressing rapidly and cost-effectively from the exploration to the production stage, the firm has unlocked ever greater value for its shareholders.
Mongold’s vision is to remain as one of the leading mid-tier gold producer of choice for employment and investment within Mongolia, delivering industry leading safety performance and superior investment returns.
Mongold will achieve its vision through:
- Training staff to the highest standards
- Retaining our internationally-seasoned management team
- Ensuring a safe and healthy work environment for all employees
- Continued commitment to our environmental sustainability programme
- Fostering cooperation with our local communities
- Adhering to international gold reporting standards
- Pursuing M&A opportunities and exploration activities
Integrity, safety and sustainability are at the heart of the company's operational success and continues to guide the company's actions for prosperity in the future.
The company is planning to grow its gold production profile by implementing a strategy of “Sustainable Mine Production Growth (SMP)”. Mongold will achieve its SMP by focusing on the following strategic areas:
- Project King (PK) mine site - PK mine site is actively being mined at Vein 1, though the current reported JORC Resource at PK is defined between Vein 1 and Vein 10 with a total of ten economically-mineable veins. After considerable geological modeling and due diligence by an independent third-party, Mongold is planning to start development on Vein 10, followed by exploration works on other veins.
- In-mine and near-mine exploration, and regional acquisitions and exploration - Whilst exploration at PK is focused on in-mine and near-mine exploration to sustain targeted production rates from its veins, under SMP regional targets are currently being assessed for the acquisition of a large Orogenic or Oxidized gold system that is amenable to Open Pit Mining and extraction of gold by Heap Leaching. Technical due-diligence is at an advanced stage for a few select sites that are likely to become a second production source for Mongold.
- Mongolian exploration tenements - Mongold has an extensive portfolio of scientifically prioritized exploration tenements across Mongolia on which 2-year exploration plans already have been developed. This pipeline will pave the way for future Mongold expansion.
Mongold balances its operation and impact with responsibility to the health and safety of our workforce, its neighboring communities and the wider environment. More information of the company's sustainable programs can be found on our ‘Operation’ and ‘Responsibility’ pages.
The company's well-seasoned management team, highly-skilled staff and sustainability strategy differentiate the company from local mines, making us the first choice for employee’s and investors in frontier markets where standards, responsibilities and operational knowledge are severely lacking. Mongold will continue to scale-up and de-risk by overseeing multiple sites, advancing us towards our mid-tier gold producer vision.
Mongold’s business model
The table below gives insight into how we create value. Recruiting global experts and sourcing funds from the company's strategic partners, combined with good working relationship with the government and central bank helps the company's business to achieve success.