Byambasaikhan Bayanjargal 

Mongolian Strategic & Financial Adviser 


Mr. Byambasaikhan is a co-founder of NovaTerra, an investment advisory firm based in Ulaanbaatar, Mongolia.  He also chairs the Business Council of Mongolia (BCM), the country’s leading business association.  NovaTerra has successfully advised on corporate and infrastructure project transactions and financings since its establishment in 2013.  

Mr. Byambasaikhan was the Chief Executive of Mongolia’s sovereign investment company, Erdenes Mongol (EMGL), where he led the signing of a US$4.4B project finance deal with 20 international banks to finance the Rio Tinto operated Oyu Tolgoi underground mine construction, estimated to cost US$6B.  

He has managed and closed financing for high-profile energy transactions in Asia, including Mongolia’s first independent power project (IPP) and wind farm in 2012.  He was also the Chief Executive of Newcom, a Mongolian technology investor, and chaired the boards of its several telecom and energy joint-ventures with American, Japanese and European investors.  Prior to that he was an energy banker at the Asian Development Bank (ADB), developing and financing power generation, transmission and distribution projects in emerging Central Asian markets.
He is also currently a Trustee of the National University of Mongolia, Zorig Foundation USA, Arts Council of Mongolia, Mongolian Archery Federation and is an Honorary Consul of South Africa.  

Mr. Byambasaikhan is a graduate of the National University of Mongolia and the George Washington University.  In 2014, he was recognised as a Young Global Leader by the World Economic Forum. 

Achitsan Buyannemekh

Country Manager


Mr Achitsan started his career with Just Group LLC in 2010 as an analyst and a manager. In 2011, Mr. Achitsan became an advisor to Elixir’s now subsidiary Golden Horde Ltd in UB and maintained the role until appointed as its Country manager in 2018.

In 2016, Mr Achitsan briefly served as one of the deputy directors of Erdenes Methane LLC, a state-owned corporation pursuing coal bed methane exploration rights in Mongolia.

Mr Achitsan’s other notable achievements include teaching management for “Dual MBA” program at MUST (Mongolian University of Science and Technology) and NUU (National United University of Taiwan) from 2012-2015 and managing foreign relations for the Mongolian Wind Energy Association from 2012-2015.

He has a BA(Hons) and MBA from Cardiff Metropolitan University (previously known as University of Wales Institute, Cardiff or UWIC)

Bayarsaikhan Zagdaa 

Geophysical Supervisor


Mr Bayarsaikhan has worked in seismic data acquisition and processing, and office management, for a total of 15 years, most of them in Mongolia with 3 years in the Uganda, DRC and Republic of Congo.  


He is familiar with both 2-dimensional and 3-dimensional seismic procedures and has been in a supervisory position for most of his career.  Liais with local government officials has formed a routine part of the work he has done the past years, both in Mongolia and in Africa.

Mr Bayarsaikhan graduated from Kazakh Polytechnic Institute in 1990 with a Master’s degree in Technical Science. He joined the Elixir team in February 2019.

Zorigtbaatar Rentsen 



Mr Zorigtbaatar graduated from Technical University of Košice in 1981 with a Bachelor’s degree in Underground Mining Engineering. 

Upon graduating he worked at the Umnugovi Aimag Water Authority as an Engineer until 1985. He then served as a soldier in 223th military class from 1985-1986.

Mr Zorigtbaatar also worked at the Mongolian People's Revolutionary Party in Khanbogd soum, Umnugobi aimag until 1992. 

After that he worked at Tavan Tolgoi as an Engineer, Deputy Director of Production, and Executive Director until his retirement in 2017. In 2018 he joined the GoH team.

Tumurbaatar Zagar 



Mr Tumurbaatar was the head of the Sharyn Gol coal mine from 1966 to 1973. From 1973-1979, he studied open pit mechanization and technology engineering in Russia and obtained degrees in both those subjects. Afterwards, he continued to work at Sharyin Gol coal mine as a mining and general engineer.

From 1991-2008 he served as the Deputy Director General, Policy and Planning Department at the Ministry of Fuel and Energy. He was also the General Director of the Mining Department at the Ministry of Mining and Geology

In 2011 Tumurbaatar joined the Golden Horde team as a Senior Adviser, a role he still plays for Elixir. Mr Tumurbaatar graduated from Polytechnic College of Ulaanbaatar in 1966.

Australian Office

Level 10, 50 Pirie Street, Adelaide, SA 5000, Australia.

Mongolian Office

Express Tower #501, Khoroo 1
Chingeltei District, Ulaanbaatar, Mongolia

Join Our Mailing List

  • Twitter