Auriant Mining was created in 2004 with the acquisition of the Tardan property in the Republic of Tyva by a group of entrepreneurs and Swedish investors.

In order to raise financing to develop the project the Company was listed, as Central Asia Gold (CAG), on the NGM Nordic Growth Market on 29 March 2005.  

In 2005 the first gold was poured at Tardan (from the Kopto deposit).  

In 2006, the Company acquired the Kopylovskoye, Artel Lena, Artel Tyva, Uzhunzhul and Kara-Beldyr subsoil use licenses and started gold production at Tardan.

In 2008, in order to develop the large greenfield Kara-Beldyr gold deposit in the Republic of Tyva, CAG entered into a joint venture agreement with Centerra Gold, a major Canadian gold producer.  Under the terms of the agreement, Centerra Gold would earn-in by continuing exploration activities.  Through investment in exploration at Kara-Bedir, Centerra Gold gradually increased its stake to 70%, which the Company then bought out in 2014 in exchange for future net smelter royalty payments on any mineral production from the Kara-Beldyr deposit.  

In the same year 2008, a strategic review of the Company’s development led to a merger with NMC (a company owning a number of Russian gold mines and licenses), completed in March 2009.  As part of the merger, the Kopylovskoye property was spun off to existing shareholders as a separate company Kopylovskoye AB, and CAG acquired several Russian gold mining subsidiaries.  One of the owners of NMC, a company associated with the American-born entrepreneur Preston Haskell, who had been active as a businessman in Russia since the early 1990-ies, became the owner of Central Asia Gold.

On 19 July 2010 the Company changed its listing to the Nasdaq First North Premier Growth Market stock exchange in Sweden, as a step towards ultimately seeking a listing on the Nasdaq Stockholm main market.

In 2010 and 2011, rationalization of the Company’s gold assets resulted in disengagement from the alluvial mining and shifting the focus to the hard rock gold mining.  As a result, a number of alluvial licenses in the Irkutsk region and the Republic of Tyva were sold off.  The Company retained several alluvial deposits in Zabaikalsky region as they are included in the Staroverinskaya subsoil use license.  Alluvial production is outsourced to contractors, with the Company’s subsidiary receiving a royalty on gold production.

In 2012, the Company’s management was reorganized and a new strategy adopted.  In view of the Company’s goal of becoming an efficient, medium-sized gold producer the new strategy focuses on the three main areas:
1) In the short term, reducing costs and increasing production at the existing mines to full capacity.
2) In the medium term, continuing exploration at the existing assets to expand the resource base, extend mine lives, and bring new mines into production.
3) In the medium to long term, positioning Auriant as a consolidation vehicle for Russian gold assets.

In connection with the new strategy, the Company’s name was changed to Auriant Mining AB, reflecting the Latin name of gold, “aurum”, and its Au sign in the periodic table of chemical elements.

In August 2012 the Tardan heap leaching plant was commissioned, resulting in the 78% increase of gold production in 2013 compared to the previous year.

In 2017, after five years of gold production via both gravitational and heap leach recovery methods, a decision was made to remodel the Tardan plant to a single Carbon-in-Leach (CIL) process flow route, in order to achieve a 30% increase in Au recovery (which was to exceed 90%) as well as to make the gold extraction process more environmentally friendly.  In order to finance the CIL plant construction, Auriant Mining carried out a rights issue in Q3 2017, increasing the Company’s capital by 142.4 MSEK (approximately US$ 18 million) by means of a debt set-off and cash contribution for newly issued shares.  The Company raised cash proceeds of approximately 67.9 MSEK before transaction costs.

In April 2019, the resources of the Kara-Beldyr deposit were approved by the State Reserve Committee (GKZ).  The GKZ-approved Kara-Beldyr C1 and C2 resources amount to 842,000 ozs of gold (26.2 tonnes) with an average grade of 3.38 g/t and 2,044m ozs of silver, (63.6 tonnes) with an average grade of 8.2 g/t.

In Q3 2019, the Tardan CIL plant construction was completed and the new plant quickly reached its projected throughput and recovery rate.

In 2020, total hard rock (at Tardan CIL) and alluvial (at Staroverinskaya) gold production amounted to 965 kg (31,014 oz), and the Company announced a 900-930 kg Au production forecast for 2021.