Mongolia Courts Washington on Critical Minerals but Power Shortages and State Control Can Cloud the Outlook

Mongolia is once again pitching itself as a future supplier of critical minerals to the West, betting that copper, lithium and rare earths can anchor a new phase of industrial development.

The latest diplomatic signal came in February 2026, when Foreign Minister Batmunkhiin Battsetseg traveled to Washington for the Critical Minerals Ministerial hosted by U.S. Secretary of State Marco Rubio, alongside delegations from more than 50 countries.

Mongolian foreign minister Batmunkhiin Battsetseg attends the Inaugural Critical Minerals Ministerial meeting in Washington, DC, on February 4, 2026. (https://asianews.network/)

The trip did not come out of nowhere. Mongolia has been laying the groundwork for years. Ulaanbaatar and Washington elevated ties to a Strategic Partnership in 2019. In June 2023, they signed a memorandum of understanding on critical mineral supply chains, focused on regulatory reform and mobilizing private capital.

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