Erdene

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

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

• Gold mining
• Precious metals exploration
• Base metals mining
• Gold production
• Mineral exploration

Headquarters

HQ city

Dartmouth

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. 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.
2. Silver Production and Sales: By-product revenue from silver production - Q1 2026: sold 3,135 oz silver at approximately $80/oz
3. 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

Core 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

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered major, core and minor.

• MCS Property LLC (MCSP)majorImplementation/ SI/ Consulting Partner · 15 January 2024Leading 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)majorStrategic or Co-development Partner · 15 January 2024Power 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)coreStrategic or Co-development Partner · 10 January 2023MMC 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 IndustriesminorOthersContracted for ball and SAG mills for processing plant
• COMO EngineersminorOthersContracted for elution circuit and gold room equipment
• Hot ChengduminorOthersContracted for filtration equipment for processing plant

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct 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

• Xx.com/ErdeneRes
• YouTubeyoutube.com/@erdeneresourcedevelopment
• Facebookfacebook.com/ErdeneResource
• LinkedInlinkedin.com/company/3364297

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds8 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Erdene