Mongolia’s mining sector is a major contributor to the national economy. According to the Mineral Resources Authority of Mongolia, mining represented 20% of GDP and 72% of exports in 2013. The territory of Mongolia is 1.5 million square kilometers and only the portion of it had gone under exploration and with number of undeveloped deposits Mongolian extractive sector certainly has lots of opportunities.
The major export commodities include copper concentrate, coal, fluorspar, gold, zinc concentrate, and iron Ore.
Mongolia has one big advantage; it is bordered with China, the biggest mineral consumer in the world and number one market. Also potential routs to Korea and Japan can be considered, through the ports of China and Far East.
As the most of the new major mining projects are at the initial stage the auxiliary sectors to the mining like equipment supply, catering, camp and construction, and financing etc, are flourishing.
Currently Mongolian government is working to improve the legal and business environment in the country. New legislations like government policy in the mineral resource sector, and investment law, which made no distinction between foreign and domestic investors, were passed.
Coal, fluorspar, and base metals still have opportunities, also the future investment attractions are oil shale and rare earth elements, and it will be the major investment opportunity.