We trade in Mongolia for more than 10 years
Our interest in doing business in Mongolia currently lasts for more than 10 years, when LAMA Investment Mongolia LLC has been incorporated in the summer of 2010. In spite of many changes in Mongolian legislative and its mostly negative impacts on business environment in exploration and mining area in the following years we have stayed patiently waiting for the opportunity. The right time came in the year 2019 when we were able to acquire exploration licenses in Umnugovi and Bulgan provinces in tenders organised by Mineral Resources and Petroleum Authority of Mongolia, we have opened our permanent office in Ulaanbaatar and have finally started our exploration work programmes.
Our portfolio currently consists of the following licenses:
Recognoscation of Baga Berkh licence
21. 9. 2021
Newly acquired licence XV-021883 Baga Berkh was visited in September 2021. Strongly altered hydrothermal zones were revealed in the siliciclastic Palaeozoic sediments. Promising placer area with well-developed gravels was revealed in the southern part of licence.
Drilling on Undur Denj licence
21. 8. 2021
Drilling for potential gold placer on two targets of the Undur Denj exploration licence was performed by Tanan Impex LLC. in August 2021. Altogether 409 m in 12 boreholes were drilled by reverse circulation. 96 of total 497 washed samples were positive for gold.
New exploration licence was acquired
16. 8. 2021
Altan Shar Tal LLC. won tender on exploration licence XV-021883 Baga Berkh in Khashaat soum in eastern part of Arkhangai aimag. Licence of area 2973,37 ha was issued by MRPAM on 16. August 2021 and is valid for three years.
Start of 2020 exploration season
1. 5. 2020
In spite of COVID-19 pandemic we have successfully started this year exploration season with no delays. Our local geological team in co-operation with GEM Exploration LLC and Geo Oron resources LLC performed extensive exploration works from May to October 2020.
Opening a Regular Office in Mongolia
14. 5. 2019
A regular LAMA ENERGY GROUP office was opened in Mongolia in May. There operates LAMA INVESTMENTS MONGOLIA LLC, the subsidiary which continues with the project for geological exploration and surveying exploration licences received in bids organized by the government agency of Mongolia (MRPAM).