Mongolrostsvetmet State-Owned Enterprise (SOE) is one of Mongolia’s premier state-owned mining entities, specializing in the extraction and processing of fluorspar, iron ore, and precious metals. Founded in 1973 as a joint venture between Mongolia and the USSR, the company laid the foundation for foreign investment and industrial mining in Mongolia. It operated as a 51/49 joint venture until 2016, when it transitioned to 100% Mongolian state ownership, subsequently becoming an SOE in 2019.
Core Operations & Operational Capacity
The enterprise employs over 1,500 people across three principal organizational units: its administrative headquarters in Ulaanbaatar, the Bor-Undur Mining Plant in Khentii Aimag, and the Shijir Alt Gold Plant in Töv Aimag.
Fluorspar & Iron Ore: The Bor-Undur complex serves as the primary hub for fluorspar and iron ore exploitation, annually extracting 550,000–600,000 tonnes of fluorspar ore (yielding 110,000–120,000 tonnes of concentrate) and 2.4 million tonnes of iron ore (yielding 320,000–400,000 tonnes of iron ore concentrate).
Precious Metals & Aggregates: Operates alluvial and placer gold operations—processing up to 2.0 million tonnes of gold-bearing sand annually—alongside industrial production of construction gravel, crushed stone, and sand.
Geological Exploration: Conducts ongoing greenfield and brownfield exploration to replenish and expand national mineral resource reserves.
Socio-Economic Impact & Regional Infrastructure
Mongolrostsvetmet has served as a primary catalyst for regional development and urbanization in eastern and central Mongolia:
Employment Hub: Provides direct employment for over 20% of the working-age population in Bor-Undur soum and 34% in Zaamar soum’s Khailaast bag.
Township Infrastructure: Historically directed ~40% of its capital expenditures toward local infrastructure—building schools, kindergartens, healthcare, utilities, and housing that established modern settlements supporting over 15,000 residents.
Workforce & Governance: Focuses on upgrading national engineering capacity, modernizing corporate governance, and implementing international standards to solidify its position as a globally competitive mineral supplier.
