Located in southeast Mongolia’s Dornogobi province, the open-pit copper and molybdenum deposit will be developed with the financing.
EBRD will also enforce stringent standards for environmental and social compliance in the country to aide the company’s growth in the region.
Mongolyn expects to begin production of the commodities with the diversification of its business, thereby enabling increased footprint in both international and domestic markets.
Contributing to the development of a sustainable mining sector in Mongolia, Mongolyn and EBRD will also provide small grants to promote small private businesses around the mine.
