Xanadu Mines Ltd is a Mongolian exploration company founded in 2005 and listed on the ASX on 21 December 2010 (ASX:XAM).
Xanadu maintains a dual exploration strategy for base metals (porphyry copper and gold) and coal (coking and thermal), given the unique opportunity presented by Mongolia’s world class geological endowment. The country has a vast cache of walk-up drill targets many of which have never before been subjected to modern or advanced high technology exploration.
Its focus has been the exploration and development of its copper-gold licences and its energy related coal assets in Mongolia, a country which straddles the vast Kazakhstan - Mongolian metallogenic belt between Siberia and China. Together with its own in house resources team, Xanadu has formed partnerships with a number of geological and technical companies with expertise in the country.
Xanadu has made significant progress at its highly prospective suite of copper and gold licences in the south east Gobi at Oyut Ulaan close to the Trans Mongolian Railway and the proposed industrial centre of Sainshand and also at Elgen Zost, Amgalant and Argalant. The company also has acquired 100% of the highly prospective Sharchuluut Uul porphyry copper project 40km from the Erdenet copper mine in north west Mongolia, which is currently the largest copper producer in the region.
Since its establishment, Xanadu’s strategy has been to target energy and metals opportunities in the Trans-Mongolian rail corridor, near rail infrastructure or within close proximity to the Chinese border. With a six year track record in Mongolia and an experienced international exploration team, Xanadu is ideally placed to identify and capitalise on opportunities to meet the burgeoning energy and metals needs of China and nearby Asian markets.
In respect of coal, Xanadu currently has four coking coal assets, the Nuurstei, Khavtsgait, Javkhlant and Khus Joint Ventures with Noble Group, as well as its own two thermal coal assets at Galshar and Khar Tarvaga both close to rail infrastructure.
The Khar Tarvaga coal project, located 200kms south east of Ulaanbaatar in Central Mongolia with a large JORC compliant coal resource of 327Mt and the Galshar coal project located in the south east Gobi, acquired in June 2010, has a JORC compliant coal resource of 170Mt.