If you have been exploring new investment opportunities, there is one resource you should tap into – Mongolia’s burgeoning gold mining industry. The country’s mineral deposits have only just begun to be unearthed and with mining licenses allotted to only 1% of the country, the time to invest in the Mongolian gold rush is now.
One company, Steppe Gold, founded in 2016 by Executive Chairman Mr. Matthew Wood and President and CEO Bataa Tumur-Ochir, stands apart with its fast-tracked growth and commitment to excellence.
Mr. Matthew Wood, a mineral explorer, and developer with 30 years of global experience in mining investments, previously founded Hunnu Coal for $20m, selling for $500M in 2011, and was awarded the Order of the Polar Star, the highest honor awarded to a non-citizen of Mongolia. Directed and managed by a team with internationally proven track records, Steppe Gold is a TSX-listed precious metals exploration and development company based in Mongolia.
The executive team for Steppe Gold set the theme for their company and earned investors’ trust early on, “putting the pedal to the metal” in getting their IPO on the Toronto Stock exchange within 12 months. These high-performers achieved another unprecedented milestone by building their first mine project from ground zero and commencing its production in 14 months time, while remaining under budget.
It is no surprise that the largest shareholders in Steppe Gold, aside from the 20% ownership by company management, are industry-leading investors, including Eric Sprott, Elliott Management, Fidelity, and Triple Flag Mining Finance. Their flagship project, The Altan Tsagaan Ovoo or ATO Gold mine, is one of Mongolia’s most prospective gold mine projects, located in the eastern part of the country. Even with the challenges posed by the global pandemic, the ATO Gold mine remained open and fully operational, successfully producing over 45,000 ounces of gold at the site in 2020.
Over the next year, the company skillfully traversed cash flow issues and production delays that prevented reagents necessary for processing without letting either roadblock thwart their efforts. Steppe Gold is now planning to produce 100,000 ounces of gold in 2022 and 2023.
With Phase 2 development estimated to be complete by 2024, aiming to increase production to over 100,000 ounces of gold annually for the next ten years, Steppe Gold is on track to become the primary investment vehicle for Mongolia’s untapped mining industry.
Exceeding projections and profit margins are just one side of Steppe Gold‘s story – they care tremendously about the Mongolian people, the environment, and helping the country prosper. Mongolian Nationals own a quarter of the Steppe Gold company. The company has created hundreds of jobs to support the local economy, today employing over 400 people, of which 99% are Mongolian nationals and 75% are from the local province.
In terms of gender representation, 60% of the company’s management are women! The company has given out over 1,000 scholarships to support Mongolian students and provides specialized training and certifications to promote team members.
Steppe Gold President and CEO Bataa Tumur-Ochir solidifies the company’s number one core value, sharing “Steppe Gold‘s first priority is, and always will be, the safety of our people.”
Aside from their focus on social responsibility, preserving the environment is especially important to Steppe Gold now and in the future. Their Biodiversity Offset Program has launched repopulation efforts for marmots and local bird species, and the company has also joined the One Billion Trees Initiative by the President of Mongolia. As a result of their efforts, Steppe Gold achieved a 92.9 implementation score on the Environmental Management Plan in 2021.
Promoting Mongolia and the ample opportunity found in the economy here is another aspect Steppe Gold takes to heart. As a company founded and owned by many Mongolian Nationals, they’re passionate about letting you know why Mongolia is a rising star.
This country, now with over 32 years of democracy under its belt, has seen an economic explosion in the last 30 years. Their rich earth is saturated with a wide range of valuable mineral deposits, lending to one-quarter of their economy, over 70% of foreign direct investment, and 93% of total export. However, there are many more untapped resources with promising opportunities, especially considering their strategic location to the consumer of commodities giant, China, nearby Korea, and Japan.
Steppe Gold is taking on the challenge and opportunity of becoming the largest precious metals producer in Mongolia by building and delivering real value to all stakeholders. By upholding its company mandate of “Delivering superior returns to shareholders, focusing on low-cost production assets, and building strong relationships with our partners, communities, and all levels of the Mongolian government,” Steppe Gold will continue to build a community of investors and a healthy and prosperous future.
Seize the moment to invest in Mongolia’s precious metal assets with a company you can trust by visiting SteppeGold.com