Mongolia’s mining industry is the backbone of its economy, contributing significantly to GDP, government revenues, and employment. Rich in mineral resources, the country is a major producer of copper, gold, coal, and other minerals. Its strategic geopolitical location next to one of the world’s largest commodity markets, China, further enhances its economic potential.

Foreign investment in Mongolia’s mining sector has surged since the 2000s, driven by major mineral discoveries and rising global commodity demand, particularly due to China’s rapid industrialization and infrastructure development. Until recently, approximately 70% of total foreign direct investment (FDI) has been directed toward the mining sector, with over 80% of that investment linked to the Oyu Tolgoi copper and gold project. Mongolia’s latest mega mining success is the world-class Zuuvch Ovoo uranium project, set to commence operations through a partnership between the Mongolian government and the French company Orano.

Over the past decade, Mongolia’s mining sector has experienced rapid development, driven by foreign investment, infrastructure expansion, and evolving government policies. Successive governments have pursued policies aimed at enhancing the business environment, supporting the mining sector, improving geological data, expanding mining opportunities, and promoting sustainable and responsible mining practices