A newly discovered mineral deposit named Oyut has been identified within the territories of Bayan-Undur and Jargalant districts in Mongolia’s Orkhon province, as reported by Montsame. Preliminary geological exploration indicates that the Oyut deposit contains approximately 357 million tons of ore reserves, positioning it as a potential asset of significant scale, comparable to Mongolia’s largest copper and molybdenum ore mining operation at Erdenet.
On September 7, Mongolian Prime Minister Zandansahtar Gombojav attended the official opening and preparatory activities for the operational launch of the Oyut deposit. The Prime Minister has authorised a feasibility study for the construction of a concentrator designed to process between 5 to 10 million tons of ore annually. Early estimates suggest that the deposit could sustain operations for 30 to 35 years, marking it as a long-term strategic resource. The initial geological exploration was conducted independently by specialists from the Erdenet Mining Corporation, with senior engineers from the corporation overseeing the project’s design and construction.
Prime Minister Gombojav emphasised Mongolia’s constitutional commitment to equitable resource distribution, stating that the benefits derived from subsoil resources will be consolidated into the National Sovereign Wealth Fund and fairly allocated to all citizens. The Oyut copper deposit is strategically located approximately 8 kilometres from the Erdenetyn-Ovoo deposit, the foundation of the Erdenet Mining Corporation, and just 3 kilometres from the infrastructure of the Industrial and Technology Park near Erdenet city.
The launch of operations at the Oyut deposit is anticipated to make a substantial contribution to the Sovereign Wealth Fund. It is also expected to serve as a key driver of socio-economic development in Erdenet city, Orkhon aimag, the Northern region, and Mongolia as a whole. This discovery underscores Mongolia’s potential to leverage its mineral resources for long-term economic growth and development.
