Mongolia is a rich country, steeped in culture and diversity, and brimming with minerals. The land is an untapped mining opportunity, with people in the know rushing to invest in the gold mining industry.

Mongolia is the 18th-largest country in the world and is fondly referred to as the 'Land of the Eternal Blue Sky' because of its sunny disposition. Most of its sprawling vistas and open terrains remain unexplored by humans. The beauty of the country remains to be seen, as does the wealth it has to offer.

Mongolia is a landlocked country – the world's largest landlocked country that does not border a closed sea – and is bordered by Russia to the north and China to the south.

A young democracy, Mongolia's political situation was deeply affected by the fall of the Soviet Union towards the end of the last century. Since then, the country has been working hard to establish its independence and develop its economy. With a free-market economy in place, Mongolia has become a sought after destination for investors around the world, especially in the mining industry.

A recent industry-related article stated that " Mongolia is among the world’s most resource-rich countries, in particular in mineral wealth, making the country very attractive for foreign investment." It is a country rich in minerals – extensive deposits of copper, coal, molybdenum, tin, tungsten and gold have emerged as a driver of industrial production, with mining now seen as an essential contributor to the country's GDP.

Mongolia is a sought-after mining destination because it is home to world-class assets, sound mining infrastructure and mining talent. There is strong support for the mining industry at all levels of local government. There is a definite focus on safety, wealth generation and sustainable development. The country also has developed broad-based win-win partnerships with China, Russia and other neighbours founded on the mining industry and related infrastructure.

The Mongolian mining company, Steppe Gold was founded in 2016 by Executive Chairman Matthew Wood, and Director, President and CEO Bataa Tumur-Ochir. It is Mongolia's premier precious metals company. Directed and managed by a team with an internationally proven track record, Steppe Gold is a TSX-listed precious metal exploration and development company.

According to its website, Steppe Gold is projected to produce over 100,000 ounces of gold from the current operational oxide zone of ATO Gold Mine in 2022 and 2023. The company also completed a feasibility study into the expansion of the ATO Gold Mine to approximately 100,000 ounces of gold per annum from the development of underlying fresh rock ores.

The company developed the Altan Tsaagan Ovoo Gold project (ATO mine) in the eastern part of the country, and was acquired from the Canadian company Centerra Gold in September 2016. Production began in March 2020 before halting due to national complications caused by the global pandemic – production has now resumed. Steppe Gol d’s portfolio also contains an 80 percent ownership in an exploration-stage mineral property called the Uudam Khundii (UK) with a 20 per cent joint venture partner.

Twenty-five per cent of Steppe Gold is owned by the management themselves. The rest of the company has industry-leading investors who are convinced that both Mongolia and Steppe Gold are worthwhile investments. The investors include Canadian mining magnate Eric Sprott, American investment firm Elliott Management , Fidelity , Triple Flag Mining Finance , and European family offices.

The management of the company has much to celebrate, accomplishing much since its inception. "Since we established Steppe Gold , the company did an IPO on Toronto Stock Exchange in just 12 months, built its first mine project from ground zero, and commenced its construction of the mine, its plant and facilities in just under 14 months – all under budget,” says CEO Bataa Tumur-Ochir.

The company is also committed to being an active part of the community in Mongolia and ensuring that it uplifts those it works with. Sixty percent of the management team are women, demonstrating an incredible representation of diversity, especially in the mining industry.

In addition, the company aims to aid the younger generation of Mongolians. “I went to the local communities," explains Tumur-Ochir, "and one of the main financial hurts for the nomadic people living in the countryside is sending their kids to schools." The company initiated a project to send young students to Canada to be educated. “When we began this project, there were only 62 students, but now there are 106,” says Tumur-Ochir proudly. In addition, the company has provided more than 1,000 scholarships to Mongolian students to study in the country.

Steppe Gold is also committed to mitigating and rehabilitating environmental impacts in Mongolia. The company supports biodiversity offsets, sustainable development and the principles of responsible mining in all of its work. They are proud of their local community partnerships and especially of the repopulation efforts for marmots and local bird species as part of their local 2021 Biodiversity Offset Program.

With its clear mandate of delivering superior returns to shareholders, focusing on low-cost production assets, and building strong relationships with its partners, communities, and all levels of the Mongolian government, Steppe Gold is set for success as it continues to grow. There are already plans in place to grow the business substantially with phase two operations in progress.

To be a part of Mongolia’s gold mining boom and to invest in a company making a difference in the world, head to Steppe Gold's website.

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