Global Business Reports is proud to introduce Mongolia Mining 2024 report, our first comprehensive guide for the country. We were drawn to Mongolia less by what we knew and more by what we did not know. The information gap in a country holding one of the world’s largest copper deposits is strung at its two opposite ends by stories that paint an overly positive and an overly negative picture. GBR set out to fill that gap with an objective overview of mining in Mongolia. One story made it through the silence: The Oyu Tolgoi (OT) copper mine, a US$15 billion development by Rio Tinto (with the government of Mongolia as a minority shareholder) puts a pin on the global map for mining on the large territory enclosed between Russia and China. Following the discovery of the OT Mongolia became ‘Minegolia’, and a brief mining boom, that lasted between 2009 and 2013, was followed by a decade of quietude. Today, the country is trying to build a more resilient economy through mining, not by bringing back Minegolia, but by showing that Mongolia is mining and more. A new mining code, investment law and multiple transactions, all in the pipeline, are already instilling more equilibrium. In the first part of the report, we look at Mongolia’s recent mining history to better understand its present. We remark on the anti-mining sentiment born out of popular resistance to ‘Minegolia’, and how it influenced the policies that are blamed for almost killing the industry in 2013. The second part explores the country’s mining sector of today, where we interview producers, developers and explorers across three commodity classes. We begin with coal and provide an analysis of the sector’s journey to greater transparency, sustainability and productivity. Copper and gold are the subject of the next article, and together they represent the country’s biggest current opportunities. We then study battery minerals, which we anticipate will write Mongolia’s mining future. We conclude with a section on the service and supply chain sector, where the same high international standards as in top-tier jurisdictions prevail, and follow the same patterns of opportunities: Electrification, digitalization and ESG. We would like to thank all of our interviewees in Ulaanbaatar for their contributions. We hope that this platform will bring the tight-knit mining community in Mongolia even closer and connect it with the rest of the world. Investors once came to Mongolia for its geology yet stumbled upon its legislative framework. How competitive Mongolia has become today, we will leave our readers to judge, hoping that this report provides them with the resources to make an informed assessment.