Mining market in Mongolia

Industry highlights

Open on restricted basis

Export Development Canada's position


Global exploration share


World Bank Ease of Doing Business score

Copper, gold and coal

lead Mongolia’s mining sector

Can $152.7 million

Mongolia ranks 44th overall in Canadian mining assets abroad


Canadian companies operating in Mongolia

Mining is the engine of the Mongolian economy, accounting for:

Mongolia is home to some of the world's largest mining projects (Oyu Tolgoi copper/gold mine, Erdenet copper mine and Tavan Tolgoi coal deposits). The capital expenditure budgets for these projects can rival the GDP of the country itself. After an extended period where no new exploration licences were issued, the Mongolian government signalled its intention to open the mining exploration sector, creating potential opportunities across the mining supply chain.

Key opportunities for Canadian mining suppliers

Green and digital mining solutions

Mongolian mining companies are becoming increasingly cognizant of the environmental impact of their operations and are more open to consider solutions to reduce their carbon footprint, improve energy efficiency, improve water usage, introduce renewable energy to complement existing power requirements, and adopt waste management solutions for mines. Oyu Tolgoi (OT) is Mongolia's largest internationally managed mega project (managed by Rio Tinto). As the focus of the OT project shifts from development to operations and given Rio Tinto's commitment to decarbonize operations, "green mining" and digital solutions will be needed.

Mineral exploration technologies

As Mongolia's mining exploration activities are expected to increase significantly, demand for geological exploration, drilling, and other related services are also expected to increase. The entire life cycle of mines including mine closure is now an integral part of all mining operations, creating a need for sustainable mine closure services and solutions.

Mine site productivity

Mining companies operating in Mongolia are looking to decrease costs and improve productivity and efficiency on mine sites. Opportunities exist for Canadian mining service and supplier companies offering solutions for mine site productivity. In addition, capacity building and training of local employees are major components for improving mine site productivity. This leads to opportunities for companies specializing in safety training and capacity building.

Notable challenges for Canadian mining suppliers in Mongolia

Mongolia business landscape

Request a meeting

To learn more about the mining industry in Mongolia, contact James Kim (, Senior Trade Commissioner, at the Embassy of Canada to Mongolia.

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