25%+
Share of GDP
90%+
Share of Exports
52B lbs
Oyu Tolgoi Copper Reserves
7.4B
Tavan Tolgoi Coal (tonnes)
Sector Overview
Mongolia's Mining & Resources Landscape
Mongolia ranks among the world's most mineral-rich countries per capita, with significant deposits of copper, gold, coal, uranium, molybdenum, fluorite, and rare earth elements. The mining sector contributes over 25% of GDP and accounts for more than 90% of export revenues, making it the backbone of the national economy.
Major producing operations include Oyu Tolgoi (one of the world's largest copper-gold mines, operated by Rio Tinto/Turquoise Hill), Tavan Tolgoi (world-scale coking coal deposit operated by Erdenes Tavan Tolgoi JSC), and Erdenet (one of Asia's largest copper-molybdenum mines).
The Minerals Law of Mongolia and the Investment Law provide the regulatory framework for exploration licenses, mining licenses, and stability agreements. Foreign investors can access special investment agreements (SIAs) offering long-term legal stability, tax rate freezes, and arbitration protections.
Key Policies & Frameworks
Minerals Law of Mongolia (2006, amended 2023)
Primary legislation governing exploration and mining licenses, license duration, royalty rates (2.5–5%), and environmental rehabilitation obligations.
Special Investment Agreement (SIA)
Available for investments above USD 50M. Provides legal stability, tax freeze for up to 30 years, and international arbitration rights under ICSID/UNCITRAL.
Strategic Deposit Regulation
State maintains right to 34–50% equity in "strategic deposits" — typically large tonnage operations. Framework for negotiating state participation terms is clearly defined.
Responsible Mining Policy 2030
Mandates environmental impact assessments, local content requirements (minimum 30% Mongolian workforce), and post-mining land rehabilitation standards.
Rare Earth Development Strategy
New policy framework (2024) for critical minerals including REEs, lithium and graphite, offering accelerated licensing and export facilitation for qualifying projects.
TSAGAAN CHULUUT (2)
Limestone project by Davaat LLC in Bayan-Ulgii Province, Sagsai soum, 23 km from the provincial center, 5 km from the center of Sagsai soum
Investment
₮25,000,000,000
≈ $7,246,377
BILUUT
Limestone project by Erel LLC in Dornogovi Province, Dalanjargalan soum, 17 km from Railway Siding No. 25, and 30 km from Dalanjargalan soum center.
Investment
₮3,500,000,000
≈ $1,014,493
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