Canadian miner Erdene Resource Development (TSX:ERD) has poured its first gold at the Bayan Khundii mine in southwestern Mongolia, marking a major milestone for the project less than a decade after discovery.
Erdene President and CEO Peter Akerley said the deposit, first identified in 2015, has quickly become a cornerstone of the Khundii Minerals District.
“With construction of a 242-kilometre power line, mining underway, the process plant commissioned and first gold doré poured in just 22 months, the team deserves tremendous credit,” he said.
The mine is expected to rank among the highest-grade open-pit operations globally. It is projected to reach nameplate capacity in late 2025, producing about 85,000 ounces annually at a low-quartile all-in sustaining cost. Total reserves stand at 513,700 ounces at an average head grade of 4 grams per tonne, including the Dark Horse satellite deposit.
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