Mongolia

Mongolia was the world’s third-ranked producer of fluorspar

Pictured: fluorspar

Statistics and information on the mining industry in Mongolia.

Overview

In 2024, Mongolia was the world’s third-ranked producer of fluorspar (excluding United States production) accounting for 14% (estimated) of global production and the eighth-ranked producer of mined molybdenum accounting for 1.2% of global production. Other mineral commodities produced in the country included ores of copper, gold, iron, lead, silver, tin, tungsten, and zinc. The mining and quarrying sector (including coal) contributed 28% or \$6.6 billion to Mongolia’s gross domestic product, \$23.6 billion. Mongolia exported most raw materials, including 1.7 million metric tons (Mt) valued at \$3.3 billion of copper concentrates; 11.6 metric tons at \$899 million of unwrought (94% pure) gold; and 7.5 Mt at \$598 million of iron ore. Mongolia imported \$1.3 billion worth of construction materials.

The legislative framework for the mineral sector in Mongolia is provided by the 2014 amendments to the Minerals Law of 2006. Regulations governing the mineral sector included Government Resolution No. 355 of 2019 on artisanal and small-scale mining. Other laws related to the mineral industry included the Law on Nuclear Energy of 2009 and the Law on Investment of 2013. Under the Ministry of Industry and Mineral Resources, the Mineral Resources and Petroleum Authority of Mongolia regulates laws applicable to the mineral industry. The National Geological Survey produces the country’s geologic maps. The Geological Center for Research and Analysis performs geologic research. Major mining companies in Mongolia were either owned by the Government, such as Erdenet Mining Corp. (copper and molybdenum) and Mongolrostsvetmet LLC (fluorite and iron ore), or by joint ventures of foreign companies and the Government of Mongolia, such as Oyu Tolgoi LLC (copper and gold) (66% owned by Rio Tinto).

Two foreign mining companies advanced their mining projects. Mongolian Minerals Pte Ltd. of Hong Kong continued to develop fluorspar deposits in in Dornogovi Aymag with three mining and two exploration licenses. Erdene Resource Development Corp. of Canada discovered a new gold prospect west of the Zuun Mod molybdenum-copper deposit in southwestern Mongolia.

2024 Report

Full data release with tables here.

The mining and quarrying sector (including coal) contributed 28% or \$6.6 billion to Mongolia’s gross domestic product, \$23.6 billion. Mongolia exported most raw materials, including 1.7 million metric tons (Mt) valued at \$3.3 billion of copper concentrates; 11.6 metric tons (t) at \$899 million of unwrought (94% pure) gold; and 7.5 Mt at \$598 million of iron ore. Mongolia imported \$1.3 billion worth of construction materials (Bank of Mongolia, The, 2025, p. 15; National Statistics Office of Mongolia, 2025, p. 385, 392; Londono, 2026; Polyak, 2026).

The legislative framework for the mineral sector in Mongolia is provided by the 2014 amendments to the Minerals Law of 2006. Regulations governing the mineral sector included Government Resolution No. 355 of 2019 on artisanal and small-scale mining. Other laws related to the mineral industry included the Law on Nuclear Energy of 2009 and the Law on Investment of 2013. Under the Ministry of Industry and Mineral Resources, the Mineral Resources and Petroleum Authority of Mongolia regulates laws applicable to the mineral industry. The National Geological Survey produces the country’s geologic maps. The Geological Center for Research and Analysis performs geologic research. Major mining companies were either wholly or partially owned by the Government. The Facilities table (formerly table 2) is a list of major mineral industry facilities. More-extensive coverage of Government policies and programs can be found in previous editions of this chapter in the U.S. Geological Survey Minerals Yearbook, volume III, Area Reports—International—Asia and the Pacific, which are available at https://www.usgs.gov/centers/national-minerals-information-center/asia-…;

Commodity Review

Copper, Gold, and Molybdenum.—In 2024, Erdene Resource Development Corp. of Canada discovered a new gold prospect 4.5 kilometers (km) west of the Zuun Mod molybdenum-copper deposit in southwestern Mongolia. Outcrop showed gold mineralization grading up to 3.2 grams per metric ton gold. Mineralized quartz veins were about 0.2 meters (m) in thickness and 500 m in length. In 2023, the company completed a 4.1-km drilling program at the Zuun Mod molybdenum-copper deposit. Erdene planned to complete further market, technical, and economic studies in 2025 (Erdene Resource Development Corp., 2025, p. 6, 16–17).

Fluorspar.—As of 2024, Mongolian Minerals Pte Ltd. of Hong Kong continued to develop fluorspar deposits in Mongolia with three mining and two exploration licenses. The company’s largest deposit, Dai Uul in Dornogovi Aymag, was estimated to have about 1.15 Mt of measured and indicated resources and 0.9 Mt of proven and probable reserves. Mongolian Minerals planned to build a beneficiation plant at Dai Uul to produce acid- and metallurgical-grade fluorspars. The plant would have an annual processing capacity of 100,000 t (O’Driscoll, 2025).

Production table

(Metric tons, gross weight, unless otherwise specified)

Table includes data available through December 3, 2025. All data are reported unless otherwise noted. Estimated data are rounded to no more than three significant digits. In addition to the commodities listed, gypsum and limestone may have been produced, but available information was inadequate to make reliable estimates of output.
Commodity	2020	2021	2022	2023	2024
Cement, hydraulic	1,182,200	1,293,300	1,374,000	1,714,000	1,895,000
Copper, mine, concentrates, Cu content	294,000^e	305,000^e	274,000^e	321,000^e	359,000^e
Copper, mine, solvent extraction, Cu content	9,488¹	9,690¹	9,736¹	9,661¹	6,976¹
Copper, refinery, primary, leaching, electrowon, Cu content	9,488	9,690	9,736	9,661	6,976
Fluorspar, acid grade	85,000²	61,301²	27,640²	188,500²	127,100²
Fluorspar, metallurgical grade	640,000^e3	590,000^e3	400,000^e3	1,100,000^e3	1,300,000^e3
Gold, mine, Au content (kilograms)	20,226	19,054	19,383	14,855	12,557
Iron ore, mine	9,224,400	9,171,900	7,659,900	5,332,000	6,642,200
Iron ore, mine, Fe content	5,530,000	5,500,000	4,600,000	3,200,000	3,990,000
Lead, mine, Pb content	12,000^e	11,200	12,200	8,000^e	9,000^e
Lime, hydrated and quicklime	70,164	50,700	66,500	58,900	59,200
Molybdenum, mine, Mo content	3,443	3,543	3,312	3,161	3,113
Raw steel	15,286	35,900	24,973	37,681	35,987
Salt	2,624	1,796	1,343	1,780	1,285
Silver, mine, Ag content (kilograms)	51,000	55,000	51,000	57,000	67,000
Tin, mine, Sn content	0^e4	8^e4	36^e4	11^e4	79^e4
Tungsten, mine, concentrates, W content	33^e	120^e	240^e	320^e	650^e
Zinc, mine, Zn content	38,200^e	37,600^e	50,000^e	50,000^e	50,000^e

^e Estimated.

¹ The copper content of solvent extraction output at the mine level is the same as electrowon refinery output because copper produced in the solvent extraction and electrowinning process is typically reported only at the refinery level.

² Flotation concentrate, includes some material less than 97% CaF2.

³ May include some submetallurgical-grade fluorspar. Based on export data.

⁴ Based on export data.

References Cited

Bank of Mongolia, The, 2025, Annual report 2024: Ulaanbaatar, Mongolia, The Bank of Mongolia, 201 p. (Accessed September 30, 2025, at https://www.mongolbank.mn/file/63b2bf87e5c92cebd412c82585c08928/files/2….)

Erdene Resource Development Corp., 2025, Consolidated financial statements: Dartmouth, Nova Scotia, Canada, Erdene Resource Development Corp., March 25, [variously paged; 52 p.] (Accessed September 30, 2025, at https://wp-erdeneresourcedevelopment-2024.s3.ca-central-1.amazonaws.com….)

Londono, Vanessa, 2026, Fluorspar: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 80–81.

National Statistics Office of Mongolia, 2025, Mongolian statistical yearbook 2024: Ulaanbaatar, Mongolia, National Statistics Office of Mongolia, 798 p. (Accessed September 30, 2025, at https://www.nso.mn/uploads/yG8XiROLDF_Vn-uKuh-V_hLI63_jXzWHOckz4NHN.pdf.)

O’Driscoll, Mike, 2025, Fluorspar supply & demand trends—Is there a shortage?: Industrial Mineral Forums & Research Ltd., June 25. (Accessed September 30, 2025, at https://imformed.com/fluorspar-supply-demand-trends-is-there-a-shortage/.)

Polyak, D.E., 2026, Molybdenum: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 130–131.

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