Steppe Gold is one of the leading gold exploration and production companies in Mongolia today. Working diligently to bring it’s ATO gold mine up and running, they recently celebrated starting phase two of operations by 2025.
The ATO gold deposit discovery occurred in August of 2015 and its geological characteristics indicate the potential for it becoming a large mining complex. The deposit is located in south central Mongolia, across the Mongolian Altai mountain range and only 25km from Steppe Golds’ flagship Chul Somgold-Jonoin gold mine. Their goal is to make ATO not only the 2nd operational mine for Steppe Gold, but also one of the largest gold mines in the region.
In order to achieve this, they are currently investing in a series of ongoing exploration and development programs. So far, Steppe Gold has conducted extensive geological mapping and geochemical sampling, which has identified a series of additional gold veins, and a new mineralized area. The company has also done 6 months of drilling, which has so far indicated potential reserves of 2.5 million ounces of gold.
The company’s CEO, Ted Yoklavich, had this to say about the progress being made: “We are very pleased to be on track for the completion of phase two by 2025. We have been able to build out the infrastructure while continuing to develop and expand the potential of the ATO gold mine without any major problems. Thanks to the dedication of our employees, we are confident we can hit our goal of producing gold by 2025.”
The plan for producing gold at ATO includes a large-scale open pit operation that will have the capacity to process up to 300,000 tons of ore annually. As part of the phase 2 operations, Steppe Gold is also working on sustainable initiatives that will help preserve the local natural environment. These initiatives include reforestation, water recycling, and waste management efforts.
The ATO gold mine will be a major source of gold supply for the Mongolian and world markets. It comes as no surprise that Steppe Gold is looking to start production as soon as possible. With all the advancements made and goals set in place, Steppe Gold is well on its way to achieve their mission.
