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Steppe Gold raises EPC contract value to $238M for ATO Mine Phase 2 with added infrastructure needs.

Company Fundamentals
26 Jun 2026
Newsfile Corp
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Neutral
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Steppe Gold's subsidiary, Steppe Mongolia, amended its EPC contract with Hexagon Build Engineering, increasing the value from $148.8 million to about $238.2 million for Phase 2 of the ATO Mine project. The increase is due to additional infrastructure requirements like tailings management, power, water supply, and transportation roads that were not fully included before. The company plans to seek debt financing to cover these costs but has not finalized arrangements, so project progress depends on securing funds and permits. A revised feasibility study reflecting increased throughput capacity is expected in the second half of 2026, with further development contingent on financing, approvals, and project planning.

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