RUNGE Limited’s (RUL) expansion into Mongolia is already reaping rewards after securing a tungsten-lithium scoping study contract with mining company Oyuny Undra Holdings.
Runge’s general manager for China and Mongolia Philippe Baudry, says the contract is the mining technology company’s largest yet in North Asia.
“We have been working closely with Oyuny Undra Holdings since January this year, assisting them to bring this mining project up to International JORC Standard,” he says.
“To date we have been providing assistance with assessing the current data, compiling preliminary estimates as well as giving advice on the deposit in terms of the potential risks and opportunities.
“We will continue to invest in our presence in Mongolia.”
Runge opened its Mongolia office in mid-April and plans to boost its presence in Russia too, with an office in Moscow in July.
Oyuny Undra Holdings business development director Davaadorj Sengee chose to work with Runge for its extensive international experience in geology, engineering and metallurgy.
Runge declined to comment on the contract value.
RUL shares rose 2 per cent today to $0.50.
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