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Rare earth resources

Mongolia is one of the 7 major countries with abundant natural resources in the world with approximately 31 million tons of rare earth resources, which accounts for approximately 16% of the worldwide rare earth resources reserves.

We are swiftly taking measures in Mongolia in preparations for the forecast increase in the price of rare earth resources expectedly due to the reduction in the quantities mined, thereby resulting in inadequate supply, by China.

Having entered into and executed agreement for exploration and development of mineral resources in Mongolia with the Korea Institute of Geoscience and Mineral Resources (KIGAM), a research institute under the umbrella of the Ministry of Trade, Industry and Energy, we shall secure the rare earth resources in Mongolia.

Furthermore, we shall put more efforts to start trading of the rare earth resources through China, Kyrgyzstan and Russia that we are currently executing and reviewing.

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