The Government of Mongolia has decided to reorganize Erdenes Mongol LLC into the “Chinggis Khaan National Wealth Fund Corporation” during its cabinet meeting on May 27.

The restructuring aims to fully align Erdenes Mongol with the functions outlined in the National Wealth Fund Law by transforming the company from a traditional state-owned mining management entity into a professional financial institution operating under international standards. The new structure will oversee state asset management, investment, sovereign wealth fund management, IPOs, and privatization in a phased manner.

The government said the reform is expected to improve the management of state-owned mining assets and create conditions for delivering more sustainable and accessible benefits from natural resources to citizens over the long term.

Prime Minister Uchral Nyam-Osor also instructed the management of Erdenes Mongol to consolidate or dissolve up to 10 subsidiaries with overlapping functions and low efficiency, while maintaining the normal operations of profitable extraction companies and firms involved in international agreements or projects of strategic importance.

According to preliminary estimates, the restructuring is expected to:

optimize around 260 positions,
reduce administrative expenses by 10%,
lower rental costs by 30%, and
generate total savings of approximately MNT 67.3 billion.
The cabinet instructed relevant authorities to finalize and approve all related decisions and resolutions by June 15.

Management of Erdenes Mongol stated that state-owned mining companies are prioritizing efficient and cost-effective use of underutilized state-owned office space and real estate instead of paying high rents for expensive commercial office buildings. 

Published Date:2026-05-27