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Mongolia Advances Mining Oversight, SOE Market Reforms and Royalty Rethink

Lawmakers pivot from audits to concrete steps to improve returns from Mongolia’s largest mines.

Overview

  • Parliament’s special oversight committee debated a draft resolution to act on Oyu Tolgoi audit and hearing findings, including tighter legal compliance and scrutiny of adjacent permits.
  • The government placed a 2026–2028 roster of 33 state-owned enterprises under preparation for public share sales or restructuring, naming major entities such as Erdenes Tavan Tolgoi, Erdenet, MIAT and Toriin Bank.
  • Erdenet reported preliminary 2025 results of MNT 4.6 trillion in revenue and MNT 693.1 billion in net profit, as its CEO called for a floating, flexible AMNAT royalty to enable new deposits and investment.
  • The prime minister’s license inventory effort logged 18,412 historical permits with 2,775 currently valid across 1,772 entities, flagged 500+ companies for ownership ties, and identified MNT 1.4 trillion in AMNAT arrears at 496 firms.
  • Ulaanbaatar sent a proposal to the city council to add 2,000 electric or PHEV taxis over five years via PPP, budgeting an initial MNT 77 billion and linking vehicles to a unified management system.