Mining Intelligence and News
Mongolia

Kharmagtai Project

Click for more information
Australia

Kharmagtai Project

Location: 62 km NE from Tsogttsetsii, Mongolia

Project Contacts:

Suite 23, Building 9B Olympic Street, Sukhbaatar District
Ulaanbaatar
Mongolia
14240

Contacts:

Additional Resources for Suppliers & Investors

Categories

Summary

Mine TypeOpen Pit
Study CompletedPrefeasibility
StagePermitting
Commodities
  • Copper
  • Gold
Mining Method
  • Truck & Shovel / Loader
Project Timeline... Lock
Mine Life... Lock
SnapshotThe Kharmagtai is one of the largest undeveloped copper-gold deposits in the world. The mine design includes open pits at the Stockwork Hill, White Hill, Copper Hill, Zephyr and Golden Eagle deposits. The largest contributors to the mine inventory are the White Hill and Stockwork Hill deposits. The two pits are mined simultaneously and eventually merge into a super pit.

The operation will commence with an initial plant operating for the first eight years (Stage 1), followed by a capacity expansion (Stage 2) after achieving payback and generating net cash.

There is an alternate independent National Instrument 43-101 technical report titled National Instrument 43-101 Report, Kharmagtai Copper Gold Project, South Gobi, Mongolia, effective 10 October 2024.

The production and economic outcomes in this Technical Report report differ from those announced in the Kharmagtai PFS report lodged with ASX on 14 October 2024 due to different requirements between ASX and TSX.

Owners

SourceSource
CompanyInterestOwnership
Zijin Mining Group Co., Ltd 38.25 % Indirect
Xanadu Mines Ltd. (operator) 38.25 % Indirect
Xanadu owns a 50% stake in Khuiten Metals Pte Ltd, a Singaporean holding company, sharing joint control with its partner Zijin Mining Group. Together, Khuiten Metals Pte Ltd controls 76.5% of the Kharmagtai project.

Xanadu's ownership is structured as 38.25% by Zijin, 38.25% by Xanadu, 13.5% by its Executive Director Ganbayar Lkhagvasuren, and 10% by QGX Ltd.

Contractors

Lock

- subscription is required.

SourceSource

Deposit type

  • Epithermal
  • Breccia pipe / Stockwork
  • Vein / narrow vein
  • Porphyry

Summary:

The Kharmagtai Igneous Complex consists of a series of intrusive bodies ranging between diorite through monzodiorite, quartz-monzodiorite to monzonite and granodiorite compositions.

The deposits at Kharmagtai are atypical in that they are associated with intermediate intrusions of diorite to quartz diorite composition; however, the deposits are in terms of contained gold significant, and similar gold-rich porphyry deposits.

Copper and gold mineralisation is controlled by porphyry phases, oxidation zone, the level of veining, breccia, country rocks and barren dykes.

There are three styles of mineralisation at Kharmagtai; porphyry style stock work Cu-Au mineralisation, tourmaline breccia style Cu-Au mineralisation and epithermal gold associated with carbonate base metal veins.

The mineralisation is characterised as porphyry copper-gold type. Porphyry copper-gold deposits are formed from magmatic hydrothermal fluids typically associated with felsic intrusive stocks that have deposited metals as sulphides both within the intrusive and the intruded host rocks. Quartz stockwork veining is typically associated with sulphides occurring both within the quartz veinlets and disseminated thought out the wall rock.

Dimensions
Stockwork Hill: The strike length of the mineralised zone is about 1,350 m. Width is up to 800 m, traced down dip to 1,250 m. Mineralisation outcrops at the surface.

White Hill: The strike length of the mineralised zone is about 1,800 m. Width is up to 830 m, traced down dip to 1,210 m. Mineralisation outcrops at the surface.
Copper Hill: The strike length of the mineralised zone is about 630 m. Width is up to 150 m with apparent plunging to SW at about 40 degrees traced down dip to 420 m dipping 70 degrees to SE. Mineralisation is outcropped at the surface.

Zaraa: The strike length of the mineralised zone is about 1,300m. Width is up to 600m with apparent plunging to SW at about 60 degrees and traced down dip to 1,280m dipping. Mineralisation outcrops at the basement surface, beneath 35m of Palaeozoic cover.

Golden Eagle: The strike length of the mineralised zone is about 400m. Width is up to 400m and traced down dip to 450 m. Mineralisation outcrops at the basement surface, beneath 35m of Palaeozoic cover.

Zephyr: The strike length of the mineralised zone is about 1,030 m. Width is up to 310 m. Traced down dip to 350m. SE. Mineralisation outcrops at the basement surface, beneath 30m of Palaeozoic cover.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Required Heavy Mobile Equipment

Lock

- subscription is required.

EV - Electric

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Commodity Production

CommodityProductUnitsAvg. AnnualLOM
Copper Metal in concentrate kt 752,200
Copper Concentrate kt 31010,200
Gold Metal in conc./ doré koz 1654,770

Operational metrics

Metrics
Annual mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Credits (by-product) Copper USD  ....  Subscribe
All-in sustaining costs (AISC) Copper USD  ....  Subscribe
All-in sustaining costs (AISC) Copper USD  ....  Subscribe
C1 cash costs Copper USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2024 study / presentation.
** Net of By-Product.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) USD  ....  Subscribe
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2024 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscribe
Sustaining CapEx $M USD  ......  Subscribe
Total CapEx $M USD  ......  Subscribe
Net revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ........... Subscription required Subscription required Nov 27, 2024
....................... Subscription required ....................... Subscription required Subscription required Dec 4, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 27, 2024
....................... Subscription required ....................... Subscription required ........... Subscription required ........... Subscription required Subscription required Nov 27, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 27, 2024

Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required ...... Subscription required ...... Subscription required 2024

Aerial view:

Lock

- subscription is required.