Transforming Lives: Mongolia’s Bold Plan to Reallocate Mineral Wealth
Mongolia Rethinking Allocation of Mineral Wealth Revenue
In Mongolia, 27.1% of its 3.5 million citizens live in poverty, despite the country’s estimated US$1-3 trillion mineral resource wealth. In response to this disparity, the Mongolian government is reevaluating how it distributes revenue from its key mines.
The latest strategy involves enriching the National Wealth Fund, also known as the Chinggis Fund, by acquiring a 34–51% stake in strategic private mines. This plan focuses on prominent companies like MMC (Energy Resource) and MAK, which have control over large coal and copper deposits such as Ukhaa Khudag, Tsagaan Suvarga, and Nariin Sukhait.
The primary goal of this strategy is to channel profits from these strategic deposits into a “Savings Fund” that will support long-term investments in healthcare, education, and housing for every citizen. By reevaluating how mineral wealth revenue is allocated, Mongolia aims to transform the lives of all its citizens for the better.
