Mining Mongolia 2021

Mongolia is an attractive environment for medium and long-term foreign direct investment (FDI) due to its vast natural resources, vast agricultural potential, and geographical proximity to major Asian markets. Mongolia’s gross domestic product (GDP) is 9.2 trillion MNT or 3.2 billion USD as of the 1st (first) quarter of 2021. Mongolia’s GDP averaged $ 4.44 billion from 1981 until 2018, reached the  highest record of $ 13.01 billion in 2018.

Mongolia is a country with a rich mineral resources, which is a attractive environment for foreign direct investment, and the Government of Mongolia is dedicated to attract more foreign investment and use all of its mineral resources. As shown in the diagram, 70 percent of foreign investment is in the mining sector, and the remaining 30 percent is in trade, food, banking and financial service, and other sectors. 

Mongolia is one of the world’s leading country with rich mineral resources, has more than 8,000 occurrences in 1,170 mines, 80 types of minerals and metals, and high reserves of copper, base metals, gold, coal and uranium.

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For more information or any queries, please feel free to contact Bolormaa.V, Partner by bvolodya@gratanet.com and Solongo G., Junior Associate of Grata International Law Firm by sgansukh@gmail.com or 976 70155031.