PM’s Mineral Royalty Reforms in Mongolia

Prime Minister Luvsannamsrain Oyun-Erdene proposed to redefine Mongolia’s mineral royalties as direct contributions to a National Wealth Fund (NWF). Positioned as a bold move to ensure mineral wealth benefits all Mongolians — present and future — the plan taps into deep-seated frustrations over decades of resource extraction yielding little visible benefit to ordinary citizens.

But while the vision is compelling, the execution risks mirror familiar dangers: poor governance, political interference, regulatory unpredictability, and damage to Mongolia’s fragile investment climate.

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