en.Wedoany.com Reported - According to information disclosed by the Mongolian State Great Khural to Interfax-Kazakhstan, Mongolia plans to launch a refinery project in 2027. Once operational, the facility will enable Mongolia to expand its gold reserves, bring products to the global market, and increase export revenues.
Official sources indicate that domestic refining capacity will allow for local processing of raw materials. Currently, Mongolia sends 70% of its gold ore to facilities in Russia, the United Kingdom, Japan, and Switzerland for processing; in the future, it will be able to produce final products domestically. This will significantly reduce costs by eliminating cross-border transportation, insurance, and security expenses.
The project has been under consideration for over a decade, but actual progress began in 2019 when a construction contract was signed. Kazakh company "Сымбат Инжиниринг" (Symbat Engineering) completed the project's feasibility study (ТЭО) for $82 million. The Kazakh government also provided Mongolia with patented refining technology worth $30 million as a grant.
In early 2025, Kazakhstan's Ministry of Industry and Construction told LS that the Kazakh side had completed all preparatory stages and was ready to fulfill its contractual obligations. However, due to a lack of necessary funding from the Mongolian side, project implementation has stalled.
According to parameters set in the feasibility study, the designed annual production capacity is 50 tons of gold and 25 tons of silver. As reported by LS, in addition to refining operations, the facility plans to produce investment-grade gold bars ranging from 1 to 500 grams, 24K, 18K, 15K, and 10K jewelry alloys, semi-finished precious metal products for jewelry and medical use, as well as gold and silver granules and powders. By-product extraction of copper, platinum, and palladium is also planned.
Currently, publicly available materials do not disclose the plant's specific technical parameters or project investment amount.
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