The Mining Department of the Ministry of Industry and Mineral Resources has conducted an in-depth study on the prospects of zinc in Mongolia, taking into account factors such as the global zinc market, the country’s zinc geology, exploration and exploitation licenses, current exploitation status and future development potential.

Mongolia is home to 11 metallogenic provinces and regions with zinc-containing mixed metal prospects, boasting 139 occurrences and 10 deposits with a total of 106.7 million tons of zinc resources. Recorded zinc reserves stand at 2.18 million tons.

Currently, five zinc and zinc-containing mixed metal deposit projects are in operation. Since 2016, these projects have provided 940 to 2,430 jobs annually, produced and exported between 100,000 and 150,000 tons of zinc concentrate, generated sales revenues ranging from 207 to 639 billion MNT, and contributed 44 billion to 517 billion MNT in taxes and fees to both state and local budgets. Additionally, there are 17 projects in the feasibility study phase that are expected to produce zinc-containing products in the future.

Looking ahead, the country is set to see a significant boost in zinc production. The 22 projects that are either ready for operation or already underway will create 5,644 jobs over the next 40 years, from 2024 to 2063. These projects are expected to produce 18.04 million tons of zinc products, containing 2.1 million tons of zinc, generating a total of 19.1 trillion MNT in sales revenue, and contributing 4.5 trillion MNT to state and local budgets.

On average, these projects will employ between 67 and 804 people annually, produce and export 1,700 to 164,200 tons of zinc concentrate each year, generate 4.9 billion MNT to 1.5 trillion MNT in sales revenue, and pay 0.8 billion MNT to 437.8 billion MNT in taxes and fees to the state and local budgets. This substantial growth in the zinc sector is poised to contribute significantly to Mongolia’s economy and employment in the coming decades, the study says.