Will Mongolia's Bold Plan to Reallocate Mineral Wealth Transform Lives for All?
- Mongolia Weekly
- Feb 18
- 2 min read
Updated: Feb 27
In a country where 27.1% of 3.5 million citizens live in poverty despite an estimated US$1-3 trillion mineral resource wealth, the Mongolian government is rethinking how to allocate revenue from its key mines.
The latest strategy focuses on enriching the National Wealth Fund—known as the Chinggis Fund—by acquiring a 34–50% stake in strategic private mines. Central to this plan are prominent companies such as MMC (locally known as Energy Resource) and MAK, which control large coal and copper deposits including Ukhaa Khudag, Tsagaan Suvarga, and Nariin Sukhait.
The objective is clear: channeling profits from these strategic deposits into a "Savings Fund" that will underpin long-term investments in health, education, and housing for each citizen.
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