Mongolia’s mining industry is highly regarded globally, particularly in terms of its rich deposits of minerals such as coal, copper, gold, and molybdenum. The country is one of the largest producers of coking coal and is considered to have some of the largest untapped mineral resources in the world. The mining sector is a significant contributor to Mongolia’s economy and is expected to continue to grow in the coming years.
In recent years, Mongolia has attracted significant investment from international mining companies, especially thanks to the world known copper and gold mine of Oyu Tolgoi. The increase in foreign investment has also helped to modernize the country’s mining industry, train local workforces and increase production. The government has also been proactive in implementing policies to have a favorable business environment for investors, promote sustainable mining practices and ensure the development of the sector in a responsible manner.
Overall, Mongolia’s mining industry has a strong reputation as a mineral-rich country, once referred to as “Mine-Golia”, with the potential to become a major player in the international mining sector.