蒙古国关键矿产市场评估（英）

MAY 2026 MARKET ASSESSMENTOF CRITICAL MINERALSIN MONGOLIAMARKET ASSESSMENTOF CRITICAL MINERALSIN MONGOLIA MAY 2026MAY 2026 Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) © 2026 Asian Development Bank6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, PhilippinesTel +63 2 8632 4444; Fax +63 2 8636 2444www.adb.org Some rights reserved. Published in 2026. ISBN 978-92-9277-779-1 (print); 978-92-9277-780-7 (PDF); 978-92-9277-781-4 (ebook)Publication Stock No. TCS260157-2DOI: http://dx.doi.org/10.22617/TCS260157-2 The views expressed in this publication are those of the authors and do not necessarily reflect the views and policiesof the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for anyconsequence of their use. The mention of specific companies or products of manufacturers does not imply that theyare endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area in this document, ADB does notintend to make any judgments as to the legal or other status of any territory or area. This publication is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)https://creativecommons.org/licenses/by/3.0/igo/. By using the content of this publication, you agree to be boundby the terms of this license. For attribution, translations, adaptations, and permissions, please read the provisionsand terms of use at https://www.adb.org/terms-use#openaccess. This CC license does not apply to non-ADB copyright materials in this publication. If the material is attributedto another source, please contact the copyright owner or publisher of that source for permission to reproduce it.ADB cannot be held liable for any claims that arise as a result of your use of the material. Please contact pubsmarketing@adb.org if you have questions or comments with respect to content, or if you wishto obtain copyright permission for your intended use that does not fall within these terms, or for permission to usethe ADB logo. Corrigenda to ADB publications may be found at http://www.adb.org/publications/corrigenda. Cover design by Claudette Rodrigo. Tables and FiguresAbbreviationsAcknowledgments I.Introduction II.Global Critical Minerals for Energy Transition Technologies and Relevance to Mongolia2Supply and Demand Outlook for Critical Minerals Relevant to Mongolia4Global Mineral Production and Processing Trends8Renewable Energy Value Chain10Financing Trends and Barriers to Entry10 III.Opportunities for Mongolia13Strengths, Weaknesses, Opportunities, and Threats Analysis of Mongolia’s13Critical Minerals Export Development PotentialEconomic Opportunities for Critical Minerals Development15 Tables and Figures Tables 1Use of Key Critical Minerals in Clean Energy Technologies32Mongolia Critical Minerals Strengths, Weaknesses, Opportunities, and Threats Analysis143What Success Looks Like for Mongolia’s Critical Minerals Sector164Mongolia Mining Sector Snapshot, 202417 Figures 1Tentative List of 11 Critical Minerals for Mongolia52Global Supply and Demand Projections for Major Critical Minerals, 2024–2050 (kiloton)63Shortfall in Selected Mined Critical Minerals, 2040 (kiloton)74Mongolian Copper Concentrate Exports85Mining and Refinery Production in Asia and the Pacific, 202296Degrees of Concentration in Critical Mineral Trade, 2015 vs. 2023117Indicative Critical Minerals Industry Market Values12 Abbreviations ADBAsian Development BankPRCPeople’s Republic of ChinaESGenvironmental, social, and governanceEVelectric vehicleFDIforeign direct investmentktkilotonSWOTstrengths, weaknesses, opportunities, and threatsMtmetric tonTAtechnical assistance Acknowledgments This market assessment study was produced under a Technical Assistance (TA) Special Fund (TA 57273 Mongolia:Climate-Smart Mining for a New Climate Economy) of the Asian Development Bank (ADB). The report wasprepared by Joanne Dixon and Miguel Campo of the Energy Markets Group, Washington, DC; and Eric Rasmussenand Enkhtumen Tumentsogt of NovaTerra LLC under the overall guidance of Dustin Schinn, water resourcesspecialist in the Agriculture, Food, Nature and Rural Development Sector Office, Sectors Department 2, ADB. Thereport benefited from comments received from Ehsan Khan, director general, ADB East Asia Regional Department(EARD); Balabhaskara Reddy Bathula, regional head, Operations Coordination, EARD; Hisaka Kimura, regionalhead, Private Sector Development, EARD; Yothin Jinjarak, senior economist, People’s Republic of China ResidentMission, EARD; and Martino Pelli, senior country economist, ADB Mongolia Resident Mission. The authors extend their appreciation to the Ministry of Industry and Mineral Resources and the Ministry ofEconomy and Development of the Government o