Erdene Mongol LLC announced that it has entered into agreement that it will receive $40,000,000 in an equity round of funding from new investor Mongolian Mining Corporation on January 10, 2023. The company will receive funding in three tranches. The company will receive $5,000,000 in first and second tranche and $30,000,000 in third tranche.

Post to the closing, the investor will acquire 50% stake in the company.