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Unlocking Mongolian Treasure – Mining Journal

Peter Akerley, a founder of Erdene Resource Development Corp., first became aware of Mongolia’s mineral riches in the mid-1990s as exploration manager for one of the largest western financed programmes in the country. As a geologist, with 35-years of experience, he describes himself as being “awed” by the country’s geological potential (‘Erdene’ is the Mongolian word for treasure, or jewel).

Akerley led a group of explorers and financiers to establish Erdene as a private entity focussed on Mongolia gold and copper exploration in 2001. The Nova Scotia-based company listed on the TSX-V in 2004 and graduated to the main board of the TSX in 2005. In 2018, Erdene cross-listed on the Mongolian Stock Exchange, where it remains the only firm listed on both exchanges.

Following a country-wide evaluation during the company’s initial years, Erdene acquired Gallant Minerals from Mohamed Al Fayed (the well-known former owner of…

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