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BAYANKHONGOR, MONGOLIA — The CEO of Naran Mandal, Michael M. Fischer, today hosted a reception for community leaders and stakeholders in Bayankhongor. The purpose of the event was to introduce the new name and look of the company and to update the community on the progress of Naran Mandal’s project in Bayan-Ovoo soum.

Mr. Fischer emphasized that the mission of the company is to not only practice the highest standards of responsible mining in terms of health, safety, and environmental stewardship, but also to be a good neighbor and corporate citizen in Bayankhongor.

“In 2014 we acquired the Tsagaan Tsakhir mine, so it is now our responsibility to write the next chapter of this great project. As the new caretakers, we believe it is important to be active members of this vibrant community and to openly share with you the good story about the work we are doing,” said Mr. Fischer in remarks delivered to over 120 local stakeholders in Bayankhongor.

Mr. Fischer’s remarks focused on the project, people, and values of Naran Mandal, which currently employs over 220 people, 97% of which are Mongolian, and many of whom are from Bayankhongor, reflecting the company’s “Buy Local-Hire Local” policy.

Mr. Fischer acknowledged the importance of the community to Naran Mandal, saying “We recognize that our Naran Mandal family extends far beyond those that work for us directly – our family includes all the vendors, suppliers, and local businesses that provide our project with local goods and services. And our family includes you – members of the Bayankhongor community – whom we respect a great deal.”

Naran Mandal is an internationally managed Mongolian gold mining company. Their project in Bayankhongor is a mid-sized, hard rock, narrow-vein, high-grade gold mine. Michael has had a long career leading mining projects around the world and was most recently the President of Kumtor Gold Company, a multi-million ounce gold mine with over 5,000 employees in Kyrgyzstan.

For more information, please contact Bulgansaikhan at [email protected]