Erdene
- Company typePublic
- Founded2000
- HeadquartersDartmouth, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
Erdene firmographics
Firmographics- Name
- Erdene
- Legal name
- Erdene Resource Development Corporation
- Website
- https://erdene.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Erdene industry classification
Industry- Product category
- Gold Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
Keywords
Where Erdene is headquartered
LocationHeadquarters
- HQ city
- Dartmouth
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Erdene business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Gold Production and Sales: Primary revenue stream from mining operations - the Bayan Khundii Gold Mine produces and sells gold ounces. Q1 2026: sold 8,527 oz gold at average price of $4,872/oz for $42 million in revenue.
- Silver Production and Sales: By-product revenue from silver production - Q1 2026: sold 3,135 oz silver at approximately $80/oz
- Joint Venture Income: Income from 50% equity interest in Erdene Mongol LLC joint venture with Mongolian Mining Corporation
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Erdene product offering
Product offeringCore offering
Erdene Resource Development Corp. is a Canadian precious and base metals mining company that explores, develops, and produces gold and silver from its Bayan Khundii open-pit mine in southwestern Mongolia's Khundii Minerals District. The company achieved first commercial production in Q1 2026, producing gold and silver for sale to commodity markets, while also advancing exploration-stage gold prospects (Dark Horse, Altan Nar, Ulaan) and base-metal assets (Zuun Mod molybdenum-copper and Khuvyn Khar copper).
Product overview
Erdene Resource Development Corp. is a Canadian-based precious and base metals mining company operating primarily in southwestern Mongolia. The company's core asset is the Bayan Khundii Gold Mine, which achieved commercial production in Q1 2026, marking its transition from an explorer to a commercial gold producer. The mine is the centerpiece of the Khundii Minerals District, an approximately 50 by 100 kilometre exploration area that Erdene has developed over 17+ years. Within this district, Erdene operates the producing Bayan Khundii Gold Mine alongside satellite gold prospects including Dark Horse, Altan Nar, and Ulaan. Separately, the company holds 100% interest in the Zuun Mod Molybdenum-Copper Project and Khuvyn Khar copper project, located approximately 30 kilometres east of the gold district, representing potential future development opportunities.
Differentiator
Problem solved
Functional benefit
Products and services
- Bayan Khundii Gold Mine Open-pit gold and silver mine located in the Khundii Minerals District, Bayankhongor Province, Mongolia. Commercial gold mine producing gold and silver for sale to commodity markets via the Erdene Mongol LLC joint venture with Mongolian Mining Corporation.
- Dark Horse Gold Prospect Gold exploration prospect adjacent to the Bayan Khundii Gold Mine within the Khundii Minerals District, with high-grade drill-intercept targets identified for future development.
- Altan Nar Gold-Polymetallic Deposit Gold-polymetallic deposit within the Khundii Minerals District with Measured and Indicated resources, forming part of Erdene's broader Khundii Gold Project.
- Ulaan Gold Prospect Gold exploration prospect within the Khundii Minerals District located adjacent to the Bayan Khundii Gold Deposit; Erdene holds 100% of the Ulaan Exploration License.
- Zuun Mod Molybdenum-Copper Project Large molybdenum-copper porphyry deposit held 100% via subsidiary Anian Resources LLC, located approximately 30 km east of Bayan Khundii; subject to a planned Preliminary Economic Assessment in mid-2026.
- Khuvyn Khar Copper Project Copper exploration project associated with the Zuun Mod license area, located approximately 30 km east of Bayan Khundii and adjacent to a planned railway development; 100% owned, with geophysical studies underway.
Quantifiable outcome
- First commercial production achieved Q1 2026 with positive EBITDA
- +3 more outcomes
Companies that use Erdene
Customer profileSegments1 record
Ideal customer profiles1 record
Erdene technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Erdene partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered major, core and minor.
- MCS Property LLC (MCSP)majorLeading Mongolian engineering and construction firm awarded US$54 million fixed-price EPC contract representing 60% of project capital costs. MCSP has 25 years operating in Mongolia and is an affiliate of MMC.
- MCS International LLC (MCSI)majorPower purchase agreement for hybrid power station consisting of 14.5 MW diesel, 5 MW solar farm, and 3 MWh battery storage system under take-or-pay arrangement. Contract value US$44 million over seven years.
- Mongolian Mining Corporation (MMC)coreMMC invested US$40 million in Erdene's subsidiary Erdene Mongol LLC (EM) for a 50% equity interest through a three-stage transaction. MMC is Mongolia's largest internationally traded mining company listed on HKEx (975). The partnership provides capital for development of Bayan Khundii Gold Mine and Khundii Minerals District. MMC focuses on development and production while Erdene leads exploration.
- CITIC Heavy IndustriesminorContracted for ball and SAG mills for processing plant
- COMO EngineersminorContracted for elution circuit and gold room equipment
- Hot ChengduminorContracted for filtration equipment for processing plant
Scale indicators10 records
Recent moves7 records
Expansion highlights5 records
Erdene competitors and assessment
Company assessmentDirect peers
- Argonaut Gold: Small-to-mid cap gold producer with operations in North America; similar market cap and single-commodity focus makes it a comparable producer-stage junior.
- Steppe Gold: Mongolia-focused gold and silver producer with producing assets; closest geographic and operational comparable to Erdene's Bayan Khundii operation.
- Wesdome Gold Mines: Canadian-listed mid-tier gold producer of similar market capitalization transitioning from single-asset to multi-asset producer; comparable production scale and grade profile.
Broad incumbents
- Alamos Gold: Established intermediate gold producer with diversified multi-asset portfolio; benchmark for where Erdene's district-scale strategy could lead at scale.
- Centerra Gold: Mid-tier Canadian-listed gold producer with operating mines; comparable corporate structure and provides a transition benchmark from junior producer to intermediate producer.
- Equinox Gold: Multi-asset intermediate gold producer built via roll-up of single-asset juniors; relevant for understanding Erdene's potential consolidation pathway.
- IAMGOLD: Intermediate gold producer with significant exposure to emerging-market mining jurisdictions (West Africa, Canada); relevant comparable for jurisdictional risk profile and producer-stage economics.
- Eldorado Gold: Mid-tier gold producer operating multiple mines globally; comparable on producer-stage margins, reserve life, and capex cycle.
Others
- Teck Resources: Diversified Canadian miner and prior Erdene investor (2017 financing); relevant comparable for the Zuun Mod copper-molybdenum optionality and as a counterparty in earlier financing rounds.
Emerging players
- Kincora Copper: Mongolia-focused copper-gold explorer with land positions in the same southern Mongolian belts as Erdene; relevant peer for exploration pipeline and Mongolian jurisdiction exposure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Erdene social profiles
Digital presenceErdene financial estimates
Financial estimateRevenue estimate
Valuation estimate
Erdene leadership team
Management profileNumber of profiles
Profiles5 records
Erdene subsidiaries and ownership
Company hierarchySubsidiaries2 records
Erdene funding detail
Funding detailFunding overview
Funding rounds8 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Erdene M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Erdene
What does Erdene do?
Erdene Resource Development Corp. is a Canadian precious and base metals mining company that explores, develops, and produces gold and silver from its Bayan Khundii open-pit mine in southwestern Mongolia's Khundii Minerals District. The company achieved first commercial production in Q1 2026, producing gold and silver for sale to commodity markets, while also advancing exploration-stage gold prospects (Dark Horse, Altan Nar, Ulaan) and base-metal assets (Zuun Mod molybdenum-copper and Khuvyn Khar copper).
Is Erdene a public or private company?
Erdene is a public company. It is classified as public and is currently operating.
When was Erdene founded?
Erdene was founded in 2000. It employs 11 to 50 people.
Where is Erdene based?
Erdene is headquartered in Dartmouth, Canada, in the North America region.
How does Erdene make money?
Three revenue lines are on record. Gold Production and Sales are the primary driver. The others are silver Production and Sales and joint Venture Income.
Who are Erdene's main competitors?
Direct peers on record are Argonaut Gold, Steppe Gold and Wesdome Gold Mines. Broad incumbents are Alamos Gold, Centerra Gold, Equinox Gold, IAMGOLD and Eldorado Gold. Teck Resources is listed as an others. Kincora Copper is listed as an emerging player.
Does Erdene have an API?
No public API is recorded for Erdene.
What industry is Erdene in?
Erdene's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining. Its NAICS code is 212220 and its SIC code is 1040.