Sharyn Gol JSC has announced that the Mineral Resources Authority of Mongolia (MRAM) has approved a newly revised mineral reserve of 146.3 million tonnes at its flagship thermal coal project in northern Mongolia. The reserve is fully compliant with the Mongolian Mineral Reserve Reporting Standard and registered with the Mongolian Mineral Reserve Fund. This more than doubles Sharyn Gol’s previous reserve estimate, and follows on from the 2010 drilling programme, which established a 374-million-tonne, largely measured and indicated, JORC Compliant Resource, of sub-bituminous thermal coal at the site.
The company has also appointed Mr Graham Chapman to its board of directors, following the resignation of Mr Ian Spence. Mr Chapman is currently the Chief Executive Officer of Hulaan Coal Corporation, a private Canadian company developing coal projects in Mongolia.
Chairman B. Batmunkh has called the newly approved reserve “a significant landmark in the redevelopment” of Sharyn Gol and has expressed confidence that “Graham’s calibre, experience, and expertise will prove to be invaluable as we continue with our modernization programme at the operation.”