Sign in Subscribe
Mining industry

Mongolia Discovers New Copper and Molybdenum Deposit, Positioning Itself as Major Player in Global Resource Market

Strategic Insights

— 1 min read

Preliminary geological exploration has revealed that the newly discovered Oyut deposit in Mongolia's Orkhon aimag holds an estimated 357 million tons of ore reserves. This positions it as a significant asset comparable in scale to Erdenet, Mongolia's largest copper and molybdenum ore mining operation. The discovery has sparked interest in the potential of Mongolian resources, with the Prime Minister authorizing a feasibility study for the construction of a concentrator to process 5 to 10 million tons of ore per year. The project is expected to contribute substantially to the Sovereign Wealth Fund, reinforcing Mongolia's constitutional mandate for fair distribution of subsoil resource benefits.

Key Takeaways:

  • The Oyut deposit, located in Orkhon aimag, holds an estimated 357 million tons of ore reserves, making it a significant find comparable to Erdenet, Mongolia's largest copper and molybdenum ore mining operation.
  • The Prime Minister has authorized a feasibility study for the construction of a concentrator to process 5 to 10 million tons of ore per year at the Oyut deposit.
  • The project is expected to support operations for 30 to 35 years, marking it a long-term strategic resource.
  • The discovery and development of the Oyut deposit will contribute to the Sovereign Wealth Fund, reinforcing Mongolia's constitutional mandate for fair distribution of subsoil resource benefits.
  • The project will also serve as a key driver of socio-economic development in Erdenet city, Orkhon aimag, the Northern region, and Mongolia as a whole.
  • The operational model of Erdenet Mining Corporation serves as a compelling example of how Mongolian professionals have successfully specialized in the mining sector.
  • The launch of operations at the Oyut deposit is expected to make a substantial contribution to the Sovereign Wealth Fund, solidifying Mongolia's position in the global resource market.

Statistics:

  • Estimated ore reserves at the Oyut deposit: 357 million tons
  • Projected annual ore processing capacity: 5 to 10 million tons
  • Projected operational duration: 30 to 35 years
  • Expected contribution to the Sovereign Wealth Fund: substantial

Sources:

  • Official statement by Prime Minister Zandansahtar Gombojav on September 7, 2025.
  • Article in the Mongolian Constitution relating to the distribution of subsoil resource benefits.

Read more