

Erdene Resource Development Corporation
CMM Verified
MSE: ERDN, TSX: ERDPublic CompanyMiningOverview
- Legal Name
- Erdene Resource Development Corporation
- Company Type
- Public Company
- Listing
- MSE: ERDN, TSX: ERD
- Industry
- Mining
- Founded
- 2000
- Market Cap
- MNT 1.11T
- CEO
- Peter C. Akerley
- Website
- www.erdene.com
- Coverage
- CMM Verified
About the Company
Erdene Resource Development Corp. is a Canadian-based mineral exploration and development company focused on precious and base metals in southwest Mongolia. As the pioneer of the emerging Khundii Minerals District, the company is a high-grade, low-cost gold producer via its flagship Bayan Khundii Gold Mine, which achieved its first gold pour in late 2025 and scaled to commercial capacity in 2026. Erdene operates the project through a 50-50 joint venture with Mongolian Mining Corporation (MMC), the country's largest independent miner. Alongside its active gold production, Erdene controls a large pipeline of wholly owned assets targeting major regional copper and molybdenum porphyry systems within the productive Central Asian Orogenic Belt.
Financial Performance
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Expenses (SG&A) | 4.0M | 6.9M | 6.4M |
| Net Profit | 522K | (8.2M) | (8.2M) |
All figures in CAD. K = thousand, M = million, B = billion, T = trillion.Source: MSE disclosures
Ownership & Structure
Shareholders
Institutions & Family Offices (controlling)38%
Management & Directors4%
Mongolian Shareholders4%
Eric Sprott23%
Retail31%
Subsidiaries & Projects
6- Bayan Khundii: Flagship gold mine (in production).Subsidiary
- Altan Nar: Gold-polymetallic project.Subsidiary
- Ulaan & Dark Horse: Gold-copper satellite exploration targets.Subsidiary
- Zuun Mod: Large Molybdenum-Copper deposit.Subsidiary
- Khuvyn Khar: Copper-silver prospect.Subsidiary
- Tereg Uul: Copper-gold prospect near Oyu Tolgoi.Subsidiary
Executive Team
PC
CEO
Peter C. Akerley
President, Chief Executive Officer and Director
RJ
Robert Jenkins
Chief Financial Officer
MX
Michael X. Gillis
Vice President Exploration
BB
Bayarmaa Bagabandi
Chief Administrative Officer
BA
Bilguun Ankhbayar
Chief Executive Officer, Erdene Mongol LLC
JM
Jon M. L. Lyons
Chief Development Officer, Erdene Mongol LLC
Board of Directors
Board Chair
LC
Layton Croft
Chairman of the Board (Independent)
AB
Anna Biolik
Independent Director (Governance Chair)
KM
Ken MacDonald
Independent Director (Audit Chair)
Independent Directors
CM
Cameron McRae
Independent Director (Technical Advisor)
Sustainability
Sustainability Outcomes
Renewable energyPollution prevention and mitigationSustainable water and waste use
ESG PolicyNO
Sustainability DisclosureNO
Transition / Mitigation StrategyNO
Impact TrackedYES
Impact VerifiedNO