Mongolia’s probable lithium reserves are estimated at 203,000 tonnes and lithium ore reserves at 2.26m tonnes respectively. Currently, two deposits are registered by MRPAM. The Khukh Del deposit in Dundgovi province has proven reserves of 37,700 tonnes and measured reserves of 151,300 tonnes, with lithium ore reserves totalling 122,300 tonnes. The measured reserves of the Munkhtiin Tsagaan Durvuljin deposit located in Dundgovi province are estimated at 14,575 tonnes.
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. Lately, Ion Energy company has been actively exploring lithium in Mongolia for the first time.