EBRD loan supports Khundii Gold project in Mongolia

The European Bank for Reconstruction and Development is providing a $5 million convertible loan to the Erdene Resource Development Corporation of Canada, which is active in precious and base metals exploration and development in Mongolia.

The EBRD loan will help complete a pre-feasibility study into the Khundii Gold project in the Bayankhongor region of the country, carry out an environmental and social impact assessment and obtain the licenses and permits necessary to advance the project into operation by 2021.