Erdene Resource Development Corporation is pleased to announce approval of the Detailed Environmental Impact Assessment (“DEIA”) for the Bayan Khundii Gold Project by the Ministry of Environment and Tourism of Mongolia. With receipt of the DEIA approval, the Company will commence preparatory works for the construction of the Bayan Khundii Gold Project.
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Quotes from the Company
“We are very pleased to receive approval of the Bayan Khundii DEIA, achieving another significant milestone in the development of the Project,” said Peter Akerley, Erdene’s President and CEO. “As outlined in our DEIA, the Bayan Khundii Gold Project promises to deliver significant benefits to stakeholders through the responsible development of resources. I would like to thank local stakeholders, the Mongolian Government, our consultants and Erdene’s team for their support.”
“Although the ongoing COVID situation and the onset of the winter season require us to approach the start of construction with caution, we are laying the groundwork for full construction in 2022,” continued Mr. Akerley. “Additionally, recent high-grade discoveries at our Dark Horse and Ulaan prospects, at which drilling is underway, demonstrate the potential scale of the hydrothermal system underpinning our Bayan Khundii Gold Project. We feel increasingly confident that the Bayan Khundii Gold Project will be the anchor of a multimillion-ounce gold district.”
Erdene’s Environmental and Social Impact Studies and Commitments
The Mongolian statutory DEIA is the principal mechanism to identify potential project specific impacts and risks and to develop mitigation actions. The Bayan Khundii DEIA was prepared by Eco Trade LLC, in accordance with Mongolian and international standards and requirements. The Professional Council of the Ministry of Environment and Tourism provided its approval for the Bayan Khundii Gold Project’s DEIA in October 2021, and formal documentation of the approval was received in November 2021. With approval of the DEIA, Erdene has applied for initial construction permits and is advancing early works in preparation for a formal construction decision, expected in early 2022.