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The independently performed analysis also resulted in NI 43-101 compliant totals of 86Mt of inferred and 175.7Mt of proven and probable resources at the site.
The adjacent Soumber deposit increased by 124% to 137.3Mt measured plus indicated resources, and by 26% to 83Mt inferred.
It follows the company’s 2011 exploration efforts and includes the inaugural resource report for the new Zag Suuj coking coal deposit which stands at 17Mt measured plus indicated and 66Mt inferred, NI 43-101 compliant.
SouthGobi president and chief executive Alexander Molyneux said he was pleased and excited about the updated resource and reserves.
“Our significant resources will be the basis for substantial volume growth over the next five to seven years as we establish their economic viability and subsequently bring these properties into production,” he said.
Coal production for the company over 2011 was 4.57Mt from 2.79Mt in 2010, and coal sales for last year totalled 4.02Mt, up 58% from 2010.
SouthGobi is a subsidiary of Vancouver-based Ivanhoe Mines which focuses on exploration and development of metallurgical and thermal coal deposits in Mongolia’s South Gobi region.
