The global gold industry blockchain alliance, Goldlinks, announced the conclusion of a strategic partnership with Erd Khul LLC, a gold mine in Mongolia. The partnership covers cooperation on mining, the creation of gold-backed digital assets, mine acquisitions, and more. The tie-up is the latest in a succession of important partnerships for Goldlinks, and indicates Erd Khul’s enthusiasm for the synergies made possible by gold-backed digital currencies.

Under this new strategic partnership, Erd Khul expressed its approval of Goldlinks’ philosophy and vision and pledged to work together to digitize its 50 tonnes in gold reserves. In addition, Erd Khul agreed to accept payment in GCC from Goldlinks users for products and services provided by the mine and its subsidiaries.

Erd Khul LLC is located in Zaamar District, Tuv Province, Mongolia. The mine occupies a total area of 2,243.08 ha, has proven gold reserves of 50 tonnes, and a monthly output of 150 kg, expandable to over 500 kg. Recent data shows that Mongolia has proven gold reserves of approximately 3,100 tonnes. These are widely dispersed, with over 70 known deposits. Moreover, with the opening of several mines of varying sizes in recent years, Mongolia’s gold production has been on an upward trajectory.