Borteeg Tests Whether Mongolia Can Finally Unlock Erdenes Tavan Tolgoi
- Amar Adiya
- Jan 20
- 3 min read
Mongolia has tried to crack the puzzle of Tavan Tolgoi, its flagship coal deposit, before and failed. This time, it is starting smaller. By launching an international request for expressions of interest for the Borteeg coking coal block, Ulaanbaatar is testing whether a narrower, cleaner tender can succeed where grand national schemes collapsed.
The state owned miner Erdenes Tavan Tolgoi, or ETT, is working to monetize Borteeg (undeveloped central section of TT) and select investors. The move reflects a recalibration of strategy. Instead of selling the whole crown jewel, the government is carving it into discrete blocks that can be developed without dragging along old disputes and political baggage.
The legal push comes from the National Wealth Fund Law, which obliges the state to extract more value and do so quickly. According to ETT’s CEO, Borteeg would extract 15 million tons annually and the prime minister prioritises funding for social benefits for children, seniors and disabled.
Borteeg is not a marginal asset. It holds an estimated 424 million tonnes of coal. A 2020 feasibility study found that 95 percent is coking coal for steelmaking, with the rest thermal. A new study is due by the first quarter of 2026.
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