Mongolia’s lithium reserves are estimated at 683,600 tonnes, with lithium ore reserves totaling 2.26 million tonnes. Over the past few years, five zones with lithium resources have been identified, each ranging from 240 to 300 km in length and 45 to 50 km in width. In 2024, an exploration was conducted for one lithium deposit, bringing the total number of lithium deposits to four, three of which are primary lithium deposits, and one contains lithium as a secondary mineral.

The Khukh Del deposit in Dundgovi province has the largest resource, with 433 million tonnes and a proven reserve of 23,500 tonnes. It is estimated to contain 283.9 million tonnes of ore with an average grade of 0.156%, along with 443,600 tonnes of lithium carbonate reserves.

The measured reserves of the Munkhtiin Tsagaan Durvuljin deposit, also located in Dundgovi province, are 2.27 million tonnes of ore with an average grade of 0.65%. This deposit contains 14,575 tonnes of lithium, 4,286.1 tonnes of rubidium with a content of 0.15%, and 0.622 tonnes of cesium with an average content of 0.03%. Since the COVID-19 pandemic, there has been a growing interest in lithium research.

To date, foreign investors have shown an interest and of particular note is a subsidiary of the South Korean conglomerate Posco Group who recently contacted Mongolian state-owned Erdenes Resources LLC to conduct joint exploration of rare minerals. In recent years, Ion Energy company has been actively exploring lithium in Mongolia for the first time.