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1993

Mongolyn Alt (MAK) LLC was founded on 12 December.

1994

The first placer gold mine started the operation in Ikh Galt alluvial deposit of Zaamar soum (sub-province), Tuv aimag (province).

The first gold dore bar numbered 01, produced from the MAK placer operation, was delivered to the Treasury of the Mongol Bank (Central Bank of Mongolia).

Lease-to-Own contract for mining equipment was signed with Caterpillar, Inc. (USA), a first leasing contract amongst the private mining companies of Mongolia.

The Company’s placer gold operation expanded to Khailaast alluvial deposit of Zaamar soum, Tuv aimag.

MAK was the 18th largest gold producer in Mongolia.

1995

MAK founded a Mongolian-Canadian Joint Venture “Bumbat” LLC, for the development of Bumbat gold hard rock deposit located in Zaamar soum, Tuv aimag.

The geological unit of МАК started first exploration campaign on alluvial gold deposit.

MAK is the 10th largest gold producer in Mongolia.

1996

The first webpage of the Company was placed at the internet.

MAK is the 5th largest gold producer in Mongolia.

1997

MAK commissioned the second gold placer mine.

First stage of processing plant and open pit mine was put into operation at the gold hard rock deposit by the Mongolian-Canadian JV “Bumbat” LLC.

1998

In-house geological team of MAK completed the exploration campaign and resources reporting of Alagtolgoi thermal coal deposit located in Dalanjargalan soum, Dornogovi aimag.

The first export shipment of gold dore was made under supervision of the Central Bank of Mongolia.

First coal mine opened at the Alagtolgoi property in Dalanjargalan soum, Dornogovi aimag.

The first coal delivery was made to Ulaanbaatar Power Plant #2 from the Alagtolgoi property.

MAK is the 5th largest gold producer in Mongolia.

1999

Second shipment of gold dore export was performed.

MAK was issued with the mineral permit for Tsagaan Suvarga copper & molybdenum property located in Mandakh soum, Dornogovi aimag.

MAK is the 4th largest gold producer in Mongolia.

30,000 metric tons of coal was produced from the Alagtolgoi property.

2000

Commissioned Eldev coal mine at the Alagtolgoi property.

Third export shipment of gold dore was made.

2001

Mongolian National Standardization and Metrology Center approved the National Standard No. MNS5042:2001 for the Eldev coal.

Tourism sector of MAK was founded by operating a Dinosaur tourist camp at Terelj National Conservation Area, 50-km east of Ulaanbaatar city.

Coal Wholesale Vendor openned in Ulaanbaatar for the purpose of delivering high quality thermal coal to urban households.

2002

The Mongolian-Chinese Joint Venture “Qinhua-MAK-Naryn Sukhait” LLC was incorporated for the purpose of operating at the partial resources of the Naryn Sukhait property and exporting coal.

First export shipment was made from Eldev coal mine via railroad.

2003

Gold Sales Agreement was signed with Samsung Corp and the export shipment of gold dore was made under the supervision of the Central Bank of Mongolia.

The coal export started from the Mongolian-Chinese Joint Venture “Qinhua-MAK-Naryn Sukhait” LLC via Shiveekhuren border port.

Governments of Mongolia and China issued resolution to make border ports of Shiveekhuren, Mongolia and Ceke, China a permanent border crossing operation.

Working Capital Financing Agreement was signed with Gerald Metals, Inc., an international trading house.

MAK geologists completed the geological campaign at the Khukh Tsav limestone property and reported its resources to the Mineral Resources Authority for approval at the State Geological fund.

National Conformity Certificate was issued for the Eldev coal by the Mongolian National Standardization and Metrology Center.

2004

Technological Renovation was completed at the Bumbat gold processing plant by commissioning CIP hydrometallurgy plant with capacity of 500 TPD gold ore processing.

Data processing laboratory equipped with Surpac software was established at the Mining School of Mongolian University of Sciences and Technology under MAK sponsorship.

2005

Copper ore processing pilot test was completed at the Erdenet Mining Corporation for the Tsagaan Suvarga copper ores and produced trial copper concentrates.

Coal briquetting, gasification and coking tests completed for the Naryn Sukhait and Aduunchuluun coals at laboratories of DMT GmbH & Co and RWE Group (Germany).

2006

The Contract for Copper Ore Resources Technical Report under the CNI 43-101 compliance signed with the Canadian “QP” independent geological engineering firm.

Construction of 35 kV power transmission line from Ceke border, China to the Naryn Sukhait mine and 10/40 kV power line from the mine to Gurvantes soum, Omnogovi aimag and Ovoot border patrol division were completed.

2007

The quicklime plant with a capacity 50,000 TPA commissioned based upon the Khukh Tsav limestone property.

The Contract for the preparation of Prelimenary Feaibility Study of the development of Tsagaan Suvarga Cu & Mo project was signed with the Aker Solutions Inc (formerly known as Aker Kvaerner).

Coal dry processing machine FGX 12 was commissioned at the Eldev coal mine.

Eldev coal mine complex is commissioned at full scale comprising set of facilities as camp accommodation, office, service workshop and coal laboratory.

Coal upgrading and briquetting tests conducted for the Aduunchuluun brown coal at White Energy Inc., Australia.

Detailed geological campaign and additional drilling completed under the supervision of the independent “qualified” engineering firm, in order to delinateate the Tsagaan Suvarga ore resources under the international reporting compliance.

The loan agreement was signed with the European Bank for Reconstruction and Development, an international development bank represented by the 61-governments of the world.

Groundbreaking overburden removal started for MAK wholly owned “New Naryn Sukhait” mine located in Gurvantes soum, Omnogovi aimag.

2008

The Feasibility Study for development of 2,500 TPD clinker/900,000 TPA cement plant based upon the Khukh Tsav limestone property completed by the Tianjin Cement Industry Design & Research Institute, China (a SINOMA subsidiary).

First coal export delivery commenced from the MAK wholly-owned coal mine “New Naryn Sukhait”.

New helicopter MI 171, which was manufactured by the Ulan Ude Aviation Plant, Russia for MAK, arrived at Chinggis Khan international airport.

2009

HE Mr. Elbegdorj, President of Mongolia and HE Mr. P. Ochirbat, a first President of Mongolia paid visit to MAK’s wholly-owned New Naryn Sukhait coal mine.

МАК wholly-owned coal mines (Eldev & Naryn Sukhait) produced and marketed 1,880,000 metric tons of coal for domestic and export markets, and the JV coal mine exported 735,200 metric tons of coal.

2010

New Naryn Sukhait coal mine exported 5 million tons coal, a record annual production in Mongolian coal industry.

MAK contributed 88.7 billion tugriks as tax payments to the state and local budgets.

2011

New Naryn Sukhait coal mine produced 5.3 million tons of coal.

Tax payments by MAK reached 160.6 billion tugriks to the state and local budgets.

Semi-coking demonstration plant for smokeless fuel brought into production at the Eldev coal mine.

Financing deal reached for the purchase of equipment of Autoclaved Aerated Concrete Plant supplied by HESS Group, Germany through export credit lending from BHF Bank under the ECA insurance of Euler Hermes.

New helicopter MI 8AMT VIP version was added to MAK helicopter fleet.

2012

New Naryn Sukhait mine exported 5.4 million tons coal, making it a record coal producer of Mongolia for the last three consecutive years.

Customs bonded facility was commissioned next to the coal mine for the purpose of expediting customs declaration and inspection process for coal export.

Groundbreaking overburden removal started for “Dornod-MAK” brown coal mine located at Aduunchuluun property, Dornod aimag.

Tsagaan Suvarga copper open pit mine started its first topsoil stripping.

Power supply was completed at full scale for MAK Cement plant. (110 kV power transmission line in 60 km, 110/10kV substation)

Civil and construction works started for MAK Cement plant with capacity of 1 million TPA cement.

Engineering design and equipment supply contract for the MAK Cement project were financed by EKF, a Danish export credit agency under arrangement of BNP Paribas and BHF Bank.

Loan agreement was signed with European Bank for Reconstruction and Development for financing of Tsagaan Suvarga Cu & Mo project.

Mining equipment and technology classroom was established under MAK sponsorship at the Technical College of Dornod aimag.

2013

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