In Mongolia, there has not been a detailed survey of rare elements that would meet fiscal requirements. Mongolia was only an observer in the last few years and is now trying to compete in this market. Mongolia has 71 deposits and 300 mineralized reserves with rare earth minerals reserve, including Khalzan Buregtei, Luugiin Gol, Mushgai Khudag, Tsagaan Chuluut, and Khotgor.

Regardless of the review from the World Bank, further analysis of the rare earth geological survey on the territory of Mongolia are required, highlighted experts of the Ministry of Mining and Heavy Industry (MMHI). The Mineral Resource and Petroleum Authority of Mongolia (MRPAM) reported that the operation in the Khalzan Buregdei deposit has commenced and the feasibility study of another one in Myangad soum, Khovd province has been approved.

During the meeting of the Prospectors and Developers Association of Canada (PDAC), a major forum of the world mining sector held in early March, the Government of Mongolia introduced the new policy to international investors for the first time. Mongolia expressed its intention in attracting investment in rare earth elements, such as uranium, aside from the traditional raw materials, including gold, copper, and coal. The participating investors at the PDAC displayed interest in the initiative.

The MMHI has recently announced its plan to intensify the exploration of rare-earth elements in cooperation with Germany. Last week, Mongolian and German intergovernmental working groups have discussed and the sides considered to work in the field of the rare earth elements. Also, Japan has been expressing its interest in exploring rare earth elements in Mongolia.