Ulaanbaatar, September 8, 2025 /MONTSAME/. A newly identified mineral deposit, known as ‘Oyut’, has been discovered within the territories of Bayan-Undur and Jargalant soums, located in Orkhon aimag, Mongolia.

Preliminary geological exploration has revealed that the Oyut deposit holds an estimated 357 million tons of ore reserves. This positions it as a potential asset comparable in scale to Erdenet, Mongolia’s largest copper and molybdenum ore mining operation, and a longstanding contributor to national economic growth and budgetary support.

Prime Minister of Mongolia, Zandansahtar Gombojav, attended the official opening and preparatory activities for the operational launch of the newly discovered Oyut Copper deposit on September 7, 2025.

The Prime Minister has authorized a feasibility study for the construction of a concentrator designed to process 5 to 10 million tons of ore per year at the Oyut deposit. Early estimates suggest the deposit could support operations for 30 to 35 years, marking it a long-term strategic resource. Initial geological exploration was independently conducted by specialists from the Erdenet Mining Corporation, whose senior engineers will oversee the project’s design and construction.

PM emphasized Mongolia’s constitutional commitment to equitable resource distribution, stating that the benefits from subsoil resources shall be consolidated into the National Sovereign Wealth Fund and fairly allocated to all citizens. Under the 2019 Constitutional amendment, every citizen is entitled to accumulate savings from these resources in personal accounts and use them according to individual needs.

Looking ahead, any planning or construction activities in regions where new mineral deposits or zones of mineralization are likely to be discovered should be undertaken in close consultation with relevant stakeholders and in cooperation with local and regional administrative bodies to ensure transparency, sustainability, and equitable development.

The operational model of Erdenet Mining Corporation serves as a compelling example of how Mongolian professionals have successfully specialized in the mining sector, acquiring expertise, technical knowledge, and practical experience over decades of industrial development.

The Oyut copper deposit is situated approximately 8 kilometers from the Erdenetyn-Ovoo deposit, the basis of the Erdenet Mining Corporation, and just 3 kilometers from the infrastructure of the Industrial and Technology Park near Erdenet city, offering strategic logistical advantages for future development.

The launch of operations at the Oyut deposit is expected to make a substantial contribution to the Sovereign Wealth Fund, reinforcing Mongolia’s constitutional mandate for fair distribution of subsoil resource benefits. It will also serve as a key driver of socio-economic development in Erdenet city, Orkhon aimag, the Northern region, and Mongolia as a whole.