Recently, Bataa Tumur-Ochir, Chairman and CEO-Steppe Gold Limited said, I’m very excited to share that Steppe Gold has passed 100,000 ounces of gold production from Phase 1 at the 100% owned ATO Gold Mine.
A fantastic achievement from our team!”
This milestone was achieved through teamwork and with the support of all our partners. From a Greenfield site in 2017, we commenced mining in 2018 and then achieved commercial production in April 2020. We focused our early efforts to gain the trust of our stakeholders, build strong relationships with local communities, and employing responsible and safe mining practices. In the face of adversity from a global pandemic, a supply crisis and regional conflict, we have built a sustainable mine admired across the region.
Today, we are proud of our strong social license and local support in our home country, with 99% of our 350 employees being Mongolian nationals and 75% from the local communities. We have generated real and sustainable economic activity in our partner communities and a sense of pride in a home-grown Mongolian mining success story.
Steppe Gold has become one of the region’s largest job providers and taxpayers, generating $188 million in revenue, royalties and taxes paid to government stakeholders approximately $13m and raising over $90 million through equity and stream arrangements to date.
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