Mongolia has rich deposits of copper, coal, gold, silver, iron ore, zinc, fluorspar, molybdenum, uranium, tin, tungsten, natural gas and petroleum. Abundant mineral reserves are found throughout the country, although only around 30% of Mongolia’s territory has been explored.
|Oil||2.4||Billion barrels||While under-explored, Mongolia’s proven reserves are in the east with frontier exploration in the west. Significant reserves of unconventional petroleum (shale gas and shale oil) are also estimated.|
|Gold||591,244||Metric tons||Alluvial gold - off limits to miners - accounts for over half of reserves, but several larger deposits are in development. Gold is also associated with large copper deposits like Oyu Tolgoi.|
|Silver||3,493||Metric tons||Despite only one producing mine in the north, there are several other silver deposits spread across the country.|
|Copper||53.6||Million metric tons||Mongolia has the world’s 12th largest copper reserves. Oyu Tolgoi will become the world’s second largest operating copper mine once the underground phase II expansion is completed in 2020.|
|Coal||26.57||Billion metric tons||Mongolia has the world’s fourth largest coal reserves, thermal and coking coals combined. Tavan Tolgoi is the world’s largest undeveloped coal mine.|
|Iron||348.11||Million metric tons||Proven reserves of iron ore are fragmented and spread out nationwide, leading to smaller average deposit sizes and lower operating lives for mines.|
Sources: "Section 18.104.22.168: Mongolia's mineral resources" in 2016 EITI Report, USGS Mongolia Minerals Yearbook 2014.