Exploration of gold deposits are mainly located in the southern and northern parts of Khentii and Khangai mountains. Copper and molybdenum deposits are located in the basin of Orkhon and Selenge Rivers, fluorspar is found in Eastern Mongolia and phosphorus in the Khuvsgul region. Large coal reserves are observed in Tavan Tolgoi, Khar tarvagatai, Achit nuur, Bagan nuur and the Uvdug khudag deposits. And the Nalaikh, Sharyn gol, Aduunchuluun and Baganuur deposits play an important role in supplying thermal coal to urban settlements due to their location in key industrial areas.

Mongolia has many iron ore deposits such as Tumur tolgoi, Bayar gol and Tamir gol. The majority of copper ore deposits are located in the areas of Orkhon, Selenge, Gobi, south Kherlen, Bayankhongor and Khankhukhii, out of which the largest is the Erdenet Copper Molybdenum deposit in the Orkhon-Selenge province.

The country has many deposits of gold and zinc such as Tumurtyn Ovoo, Salkhit, Tulgatai Mountain and Modon ovoo. The Berkh flourspar mine was opened in 1954 and is one of the largest fluorspar mines in Mongolia. The eastern part of the country also has many fluorspar deposits.

A majority of phosphorus deposits stretch along the west side of Khuvsgul Lake starting at Soyon Mountain. Jewels such as crystal, topaz, sapphire, garnet, chrysolite, amethyst, turquoise and jade can also be found and some of these deposits are of industrial importance.

Mongolia also has the term “strategic mines” which refers to mineral deposits considered critical for the country’s economy and development prospect. These mines typically hold valuable minerals, and in some cases, may demonstrate richness not only in the individual deposits but across the entire region.