ASIA
2010
The year that XANADU MINES was founded coal reserves at an estimated 162 billion tonnes . It took Mongolia a while to shake down since shaking off Soviet influence in 1990 and ceasing to call itself a people ’ s republic , but today this huge , sparsely populated country is democratic , peaceful and stable . Its readily accessible mineral wealth has started to attract major mining companies seeking new resources and with copper and gold prices firming up following a four-year downturn , Mongolia is looking increasingly attractive .
Since it floated on the Australian Stock Exchange in May 2010 , the Australian exploration company Xanadu Mines has been singlemindedly pursuing its goal of adding value to its properties in the South Gobi district of Mongolia .
Its Managing Director and CEO Dr Andrew Stewart has long held the view that Mongolia had the edge on other comparable regions :
“ In exploration , a good principle is to have a counter cyclical approach ,” he says . “ That might seem like a truism but very few companies actually do it .”
The lean years which saw large projects mothballed and investment drying up are coming to an end , but when Xanadu acquired its assets , he and his team saw their opportunity to get established ahead of the curve .
“ We like Mongolia because it is a very underexplored exploration location , even though it has been shown to host some of the biggest
www . xanadumines . com 39