Тhe state-owned company Erdenes Alt Resource presented its 2024 operational report at its shareholders’ meeting. The company operates the Salkhit gold-silver deposit located in Gurvansaikhan soum of Dundgovi province. In the past year, the company moved 2,539.8 thousand m³ of overburden, stripped 2,252 thousand m³ of soil, mined 745.4 thousand tonnes of ore, and produced and sold 14,473 tonnes of silver concentrate. In 2024, the company’s sales revenue increased by 41%, reaching MNT 405.8 billion. It also contributed MNT 79.9 billion in taxes to the state and local budgets, an increase of MNT 20 billion compared to the previous year. Erdenes Alt Resource has been operating at the Salkhit deposit since 2020.
Over the past five years, it has generated a total of MNT 1.1 trillion in sales revenue, achieved a net profit of MNT 433.1 billion, and paid MNT 208.7 billion in taxes. According to the initial feasibility study, the company was projected to earn approximately MNT 462.6 billion in net profit, which was expected to cover a portion of the MNT 1.2 trillion bond issued to settle pension-backed loans. Over the last five years, the company has paid MNT 208.7 billion in taxes and MNT 293.3 billion toward the Erdenes bond repayment. Additionally, last year, the company discovered a new primary gold deposit to the east of the Salkhit site, confirmed its reserves, and is preparing it for production. Preliminary estimates suggest that the deposit contains 5 million tonnes of ore with 2.7 tonnes of gold.
