First Shovel: Exploration Begins at Tsagaan Tolgoi

Field work has begun at Tsagaan Tolgoi, one of the mining assets MPC's infrastructure is preparing to bring on-chain. This first update marks the start of the exploration stage — the earliest step in the mine lifecycle, before any development or extraction.

Crews mobilised to the site on the Mongolian steppe. Heavy trucks and an excavator moved in the equipment, and a prefabricated field office was set down and assembled to establish the exploration camp. Gers house the on-site team alongside the container units.

Exploration and survey work will characterise the deposit and inform the stages that follow — development and mining, processing and refining, distribution and delivery, and eventual closure and restoration. Because MPC treats each mine as infrastructure rather than a single packaged product, updates like this one document real progress in the field, not a specific offering.

Detailed figures — scale, timeline, expected returns, and stakeholders — will be published here as they are confirmed.