Mongolia’s rich endowment of copper, uranium, fluorspar, and rare earths makes it a pivotal player in the global shift to clean energy, as highlighted in this latest article by the Lowy Institute.
Minerals already constitute more than 90% of Mongolia’s exports, but the nation has underscored its commitment to becoming a leading player in rare earth elements (REEs) and critical mineral production by signing a MoUs with Korea and the U.S. to advance secure and resilient critical mineral supply chains.
In October 2023 France signed a $1.7 billion landmark uranium mining deal with the Mongolian government.
The demand for Mongolia’s energy transition minerals provides a critical opportunity and is leading the nation’s government to explore regulatory reforms that will expedite project licensing and permits, potentially clearing the way for Mongolia’s significant role in the global energy transition.
QARAS Expertise:
With two decades of in-country presence, QARAS understands that Mongolia’s true advantage lies not just in resources, but in equitable, well-structured partnerships. We navigate policy, maintain mine-level to government-level connectivity, and understand infrastructure realities. As demand grows for minerals critical in batteries, EVs, and clean tech, our ability to source responsibly and efficiently ensures clients benefit from Mongolia’s emerging role in the energy transition.
Original Article: https://www.lowyinstitute.org/the-interpreter/mongolia-s-critical-role-global-energy-transition
