Mongolia's copper exports will see a significant increase in 2026
Montsame, Ulaanbaatar, January 30 - In the context of falling global coal prices, despite Mongolia increasing its physical exports to the maximum, revenue has not reached the expected level. In 2025, our country's coal exports reached 85 million tons for the first time, setting a new historical record, but coal prices fell by 43% year-on-year, affecting fiscal revenue. As coal prices are still expected to continue falling this year, Mongolia can rely on the next mineral product, which is copper.
70% to 75% of Mongolia's total export value depends on three minerals: coal, copper, and iron ore. Among them, coal exports account for 54%, and copper exports account for more than 20%. It is expected that copper exports will increase significantly in 2026, and prices may also rise.
Last year, copper prices on the world market rose by 35%, exceeding $10,000 per ton, setting a new historical high. Data released by the Ministry of Industry and Mineral Resources shows that for Mongolia, the plan was to produce 1.8 million tons of copper concentrate in 2025, and by the end of that year, 2.4 million tons of copper concentrate had been exported. The growth in copper concentrate exports is directly related to the increased output of the Oyu Tolgoi copper mine and also played an important role in compensating for the loss of coal revenue.
Original article: toutiao.com/article/1855757259227338/
Disclaimer: This article represents the views of the author himself.