Bayan Khundii Gold Project Nears Completion at 99%

Erdene Resource Development announced that as of June 30, 2025, construction of the Bayan Khundii Gold Project is 99% complete and approaching its final stages. Earlier, on June 12, the company secured permits for the processing plant, mining operations, and related non-industrial facilities, including storage and chemical handling infrastructure.

By the end of the second quarter, the company had invested a total of USD 115 million in capital and operating costs, while maintaining an unused financing reserve of USD 31 million to support the start of production.

Under its development plan, the project is expected to produce its first gold by the end of the third quarter and reach steady-state production by the end of 2025. Bayan Khundii is a high-grade, open-pit deposit projected to yield an average of 85,000 ounces of gold annually at comparatively low operating costs.

The company also reported a net loss of USD 4.1 million in the second quarter, double the loss recorded a year earlier. Nevertheless, since the start of 2025, shares of Erdene Resource Development—dually listed on the Tier II Board of the Mongolian Stock Exchange—have jumped by about 60 percent, lifting its market capitalization to MNT 932.7 billion.