EITI Status Satisfactory progress
Joined EITI in 2007
Latest Data From 2018
Latest Validation 2018
Website EITI Mongolia
Last updated 25 February 2021


The mining industry plays an important role in Mongolia’s economy. In 2015, Mongolia accounted for 3% of the world’s fluorspar production. In addition, the country has extensive deposits of coal, copper, gold, petroleum and uranium.

A big part of the nation’s area has experienced geological exploration work whereby extensive mineral reserves have been discovered. The mining sector accounted for 23.03% of Mongolia’s GDP on average for the last three years. The share of GDP from the sector in 2018 is 0.2% higher than in 2017. The 2018 EITI report highlights that the share of mining sector in total industrial production of Mongolia was 57,63% on average for the last 3 years.

Mongolia has large mineral potential, over 6,000 mineral deposits and occurrences of 80 types of minerals have been discovered. Exploration has expanded year-on-year leading to a number of new discoveries of copper, gold, coal, uranium and other types of minerals.

Find a video about the EITI in Mongolia here (in Mongolian).

Mining licences are awarded on a ‘first come first served’ basis, while oil and gas production-sharing agreements (PSAs) are awarded through public tender. The 2010 moratorium on new mining exploration licence awards was lifted in 2014. Mongolia had 25 oil and gas PSAs and 4800 active mining licences in 2018.

Learn more from the MRPAM website.

Beneficial ownership disclosure

Mongolia decided to include a section on beneficial ownership in its 2013 EITI Report. Using a simple questionnaire, the MSG asked for beneficial ownership information from any entity holding 5% or more of a mining or petroleum license. While the survey was voluntary, 215 of the 250 companies that participated in the 2013 EITI Report provided information on their equity-holders. Although some equity holders were natural persons, the report did not confirm whether they were legal or beneficial owners. The results were converted into an interactive infographic on the EITI Mongolia website. The 2014 EITI Report was less successful in providing beneficial ownership data, with only 30 of the 236 companies responding to the request. The 2015 EITI Report was more successful, with 51 of the 202 companies reporting, of which 26 disclosed their beneficial ownership. In the 2016 EITI Report, 47 of the 213 companies reported details of their beneficial ownership. This number increased significantly in 2017: in the 2017 EITI Report, 184 of 230 companies disclosed their beneficial ownership.

In February and May 2018, the EITI International Secretariat, with support from the EBRD, conducted two beneficial ownership workshops for civil society and media representatives. The workshops were focusing on strategies for ensuring a robust legal framework for beneficial ownership transparency, and understanding and evaluating the quality of beneficial ownership data disclosed by the companies. In May 2019 the International Secretariat with support from the EBRD conducted a round table for government and parliament a to discuss the progress in implementation BO transparency.


Mongolia is a leading producer of mineral commodities such as coal (according to the IEA, the country is the world’s 13th largest producer in 2017) and copper, but produces and exports a total of 15 mineral and petroleum commodities including gold, iron ore, zinc, molybdenum, fluorspar, tungsten, silver, tin, gypsum, zeolite, lead and clinker. Mongolia was primarily a copper exporter until 2006, although surging coal exports to China dominated output from 2007 to 2012. Oyu Tolgoi’s ramping up of production since 2013 has led to growing exports of copper concentrate, which offset a slump in coal output. Exploration activity is focused on the North, South and East of the country, with long distances requiring complex associated infrastructure to develop new mines.

Mineral production (tonnes)

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Oil and Gas Production (Sm3 o.e.)

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Natural resources

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.

Oil2.4Billion barrelsWhile 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.
Gold591,244Metric tonsAlluvial 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.
Silver3,493Metric tonsDespite only one producing mine in the north, there are several other silver deposits spread across the country.
Copper53.6Million metric tonsMongolia 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.
Coal26.57Billion metric tonsMongolia has the world’s fourth largest coal reserves, thermal and coking coals combined. Tavan Tolgoi is the world’s largest undeveloped coal mine.
Iron348.11Million metric tonsProven reserves of iron ore are fragmented and spread out nationwide, leading to smaller average deposit sizes and lower operating lives for mines.

Sources: "Section Mongolia's mineral resources" in 2017 EITI Report, USGS Mongolia Minerals Yearbook 2015.

Revenue collection

According to the report published by the Ministry of Finance, the tax revenue generated from the mining sector reached to 850 miliion USD (MNT 2.394 billion) into state budget at the end of 2018. Roughly a quarter of these revenues comes from mineral products, with the rest from mining, where copper, coal and iron ore as the major commodities. Revenues were mainly collected through fees for exploitation and exploration of mineral resources (37.95%), corporate income tax (20.71%) and state petroleum receipts as per PSAs (9.21%). The Mining Law was revised in July 2014, with new royalty structures.

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Revenue allocation

Provincial and district governments receive 25% of VAT (aside from imports), 5% of mining royalties and 30% of oil and gas royalties through the General Local Development Fund. Provincial governments also play a key role in extractive industries oversight, approving new licence applications for instance. The new Law on Glass Accounts requires full disclosure of expenditures by all levels of government.


The EITI encourages multi-stakeholder groups to explore innovative approaches to make the EITI more relevant and useful.

  • Mongolia’s EITI Reports are very comprehensive, with roughly 1000 companies reporting.  
  • By 2016, all 21 provinces and 14 districts had established tripartite subnational EITI councils.
  • Reporting entities disclose EITI information through an online reporting system.
  • An online query tool allows users to visualise legal ownership information on some companies.


Mongolia joined the EITI in 2007. On 13 February 2018 Mongolia was found achieved satisfactory progress in implementing the EITI Standard on its second Validation. View more information under the Validation section of this page or go to the Board's decision in full.

The key objectives of Mongolia’s EITI implementation include establishing the EITI Report and eReporting system as the most reliable source of information on the extractive industries, with EITI data contributing to public debate, enhance stakeholders’ capacity and mutual trust as well as ensuring the sustainability of the EITI process.


The Government of Mongolia committed to implement EITI in December 2005 and was admitted as EITI Candidate on 27 September 2007. A  Memorandum of Understanding sets out the commitment to EITI implementation by the government, extractive companies and civil society. Resolution no. 80 (2007) establishes the responsibility of government bodies in EITI. A National Council coordinates and monitors implementation of the EITI in Mongolia, chaired by the Prime Minister of Mongolia, Sumiyabazar Dolgorsuren, Minister of Mining and Heavy Industry and has 30 members. A Multi-Stakeholder Working Group (MSWG) is in charge of implementing EITI activities, counts 33 members and is chaired by the senior advisor to the Prime Minister Nandinjargal Ganbold, State Secretary of the Ministry of Mines and Heavy Industry. Since November 2018, the National Secretariat has been under the Ministry of Mining and Heavy Industry. Resolution no. 19 (14 July 2010) commits the government to finance the cost of EITI Reports from fiscal year 2011 onwards through the budget of the Prime Minister’s Department, and directs regional and local governments to disclose all revenues paid by the holders of exploration and exploitation licenses as part of the EITI process. The current Minerals Law of Mongolia (§48.10) requires mining holders to publicly disclose product sales, and taxes and payments paid to the State and local budgets annually. Development of a draft EITI law is in progress.


Mongolia Implementation 2020


The Board decided that Mongolia had achievied satisfactory progress in meeting the EITI Standard on 13 February 2018. The country was previously found to have made meaningful progress on 11 January 2017 during the First Validation. Mongolia took corrective actions on a number of requirements and achieved satisfactory progress during the second Validation. Mongolia’s third validation commences on 13 February 2021.

Mongolia's progress by requirement

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Scorecards show the outcomes of Validation. Arrows of progress indicate where the International Secretariat has re-assessed a requirement following a corrective action in a second or third Validation.