Mongolian Mining, an internationally traded mining company, agreed to acquire a 50% stake in Erdene Mongol, a holder of the Khundii and Altan Nar mining licenses and the Ulaan exploration license, for $40m. “We are excited to partner with Erdene on exploration activities and to fund further development of their projects in Mongolia. Our partnership will be important in unlocking new opportunities for the Mongolian minerals sector which will further increase the industry’s contribution to the economy,” Battsengel Gotov, MMC Executive Director and CEO.