Gold and copper explorer Kincora Copper Limited (ASX: KCC) has regained full control of its Mongolian asset portfolio after Orbminco Limited (ASX: OB1) withdrew from a September 2024 earn-in agreement to focus on Australian gold projects.
Kincora now holds 100 per cent ownership of the Bronze Fox copper-gold project and associated infrastructure, including three underexplored intrusive complexes, a year-round field camp, and a proprietary Mongolia-wide project generation database.
The Bronze Fox portfolio already hosts a JORC Mineral Resource Estimate and an Exploration Target.
The company emphasised that the development comes amid rising investor interest in Mongolia’s resource sector.
Recent activity includes Bastion Mining Pte. Ltd’s $160 million takeover of Xanadu Mines’ flagship Kharmagtai project, first gold pour at Erdene Resource Development’s Bayan Khundii greenfield site, construction of the Tsagaan Suvarga copper-molybdenum project, and progress at Oyu Tolgoi, which is on track to become the world’s fourth largest copper mine by 2030.
Kincora said it is now assessing a range of options to advance its portfolio, including targeted self-funded exploration, third-party investment, or broader corporate initiatives.
Early steps may involve seeking a second mining licensce at Bronze Fox, along with updated studies on its existing oxide resource to capture shifting market dynamics in commodity prices.
The company noted it will provide further updates as it evaluates the next phase for its Mongolian assets.
