Erdenes Critical Minerals SOE

Erdenes Critical Minerals SOE, formerly known as Mongolrostsvetmet SOE, was established in 1973 under an intergovernmental agreement between Mongolia and the former Soviet Union. It was founded to mine and process fluorspar, precious metals and other minerals in Mongolia, expand mineral resources and strengthen the country’s export capacity. The enterprise has operated for more than five decades and is one of Mongolia’s major early foreign-invested industrial enterprises.

The organization operated as the Mongolrostsvetmet association from 1991 under the Mongolia–Russia intergovernmental agreement, became a limited liability company in 2007, and was reorganized as a state-owned enterprise in 2019. Its ownership was formerly 51% Mongolian and 49% Russian, and in 2016 it became 100% state-owned by Mongolia.

The enterprise operates in fluorspar ore mining and beneficiation, iron ore mining and beneficiation, gold mining and processing, gravel, crushed stone and sand production, and geological exploration.

It has annual capacity to process 550–600 thousand tons of fluorspar ore and produce 110–120 thousand tons of fluorspar concentrate, mine 2.4 million tons of iron ore and produce 900 thousand tons of iron concentrate, and wash more than 1.0 million cubic meters of gold-bearing sand. The enterprise provides stable employment for more than 1,550 people.

Its current structure includes the head office in Ulaanbaatar, the Bor-Undur mining and processing plant in Bor-Undur soum of Khentii province, and the Shijir Alt gold plant in Zaamar soum of Tuv province.

The enterprise has introduced integrated management systems under ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 standards. By Government Resolution No. 95 dated February 19, 2025, Mongolrostsvetmet SOE was renamed Erdenes Critical Minerals SOE.