This year, Mongolia plans to produce 90 million tons of coal, 1.9 million tons of copper concentrate, and 9.4 million tons of iron ore.
It was also reported that there are currently 1,031 valid mineral exploration licenses and 1,771 mining licenses in the country. The information was presented during a discussion on the implementation of policies and activities of the industrial and mineral resources sector for 2026.
The discussion was attended by First Deputy Prime Minister and Minister of Economy and Development Enkhbayar Jadambaa, as well as Deputy Minister of Economy and Development Davaasuren Sodnomdarjaa. Participants exchanged views on the sector’s policies, ongoing projects and programs, and activities planned for this year.
Deputy Minister Davaasuren noted that the ratio of exploration and mining licenses is reversed, which poses risks to the sector’s development, and inquired of Minister of Industry and Mineral Resources Damdinnyam Gongor about how much time and budget are to be spent to normalize the ratio.
In response, the authorities of the Ministry of Industry and Mineral Resources (MIMR) emphasized that increasing investment in geological exploration is essential to strengthening the sector’s long-term capacity and should be reflected in the budget framework. They noted that countries with mining-dependent economies follow international best practices by ensuring stable financing for geological exploration. Revising the methodology for calculating the mineral royalty and introducing the international practice of allocating a certain share to local communities where mining operations are taking place would contribute to local development and enhance public understanding and support.
At the end of the meeting, participants agreed to continue collaboration to improve policy coordination in the mining and industrial sectors, support economic growth, and create a favorable investment environment.
The MIMR has announced 2026 as the “Year of Policy Reform.” Within the framework of Mongolia’s 14 mega projects, six major projects are currently being implemented, including the Mongolia–France joint uranium project, coal-chemical and coke-chemical complexes, copper and steel projects, an oil refinery complex, and a gold refining plant. In addition, amendments and revised versions of the Minerals Law, the Heavy Industry Law, the Petroleum Law, and the Petroleum Products Law are planned to be submitted to the Parliament for consideration during its spring session to increase investment and improve the business environment.
The mining sector accounts for 26 percent of Mongolia’s GDP and 79 percent of total industrial output, while contributing 95.4 percent of export revenues, 74 percent of foreign direct investment, and 28.4 percent of consolidated budget revenues. Between 2015 and 2024, Mongolia attracted MNT 99.38 trillion in foreign investment, approximately 80 percent of which went to the mining sector.

Published Date:2026-01-27