Mongolia's CRM Investment Opportunity
A Strategic Partner in the Global CRM Race
As the world accelerates its transition to clean energy and advanced electronics, the demand for Critical Raw Materials (CRMs) is surging. Mongolia stands as a resource-rich, geopolitically neutral nation, perfectly positioned to help diversify global supply chains away from single-source dependency.
A strategic CRM for the EU.
A top global supplier.
Untapped with high EU interest.
Emerging potential for EV batteries.
The Engine of the Economy
The mining sector is the undisputed backbone of Mongolia's economy, representing the vast majority of its exports and foreign direct investment. This deep-rooted expertise provides a solid foundation for new CRM projects.
Mining Share of National Exports
Mining Share of Foreign Direct Investment
The EU's Critical Raw Materials Act (CRMA)
The EU is heavily dependent on China for its CRM supply, importing 100% of its heavy rare earths. The CRMA (2023) is a landmark policy designed to mitigate this risk by setting ambitious 2030 targets, creating a direct and urgent opportunity for partners like Mongolia.
10% Domestic Production
40% EU Processing
25% EU Recycling
A core goal is that no more than 65% of the Union's annual consumption of each strategic raw material should come from a single third country.
Accessing International Capital
A diverse range of funding instruments is available from European and other international partners. These funds are specifically designed to de-risk and accelerate CRM projects outside of traditional supply chains.
SWOT Analysis: The Mongolian CRM Landscape
Strengths
- Vast, untapped mineral base of CRMs
- Stable democracy with EU-aligned "Third Neighbour" policy
- GSP+ preferential access to EU markets
- Proven experience with world-class mines (e.g., Oyu Tolgoi)
Weaknesses
- Landlocked geography, reliant on China/Russia for logistics
- Limited domestic processing infrastructure
- High export dependency on China (80%)
- Historically fragile investor trust
Opportunities
- Access to CRMA funding, Rohstofffonds, and Global Gateway
- Surging global demand for non-Chinese CRMs
- Potential for technology transfer from EU partners
- Support from EBRD, EIF, and other development banks
Threats
- Strong competition from other resource-rich nations
- Geopolitical tensions involving neighbors (China/Russia)
- Volatility in global commodity prices
- Potential for public backlash if ESG standards are not met
The 5-Stage Path to Production
1. Exploration (0-2 yrs)
Key Outputs: Resource estimate, scoping study.
Investor Relevance: Establishes proof of geology and an early ESG baseline.
2. Pre-Feasibility Study (PFS) (1-3 yrs)
Key Outputs: Mine plan, preliminary economics, ESIA.
Investor Relevance: Signals clear technical and economic potential.
3. DFS & Permitting
Key Outputs: Bankable feasibility study, all permits, full ESG plans.
Investor Relevance: Project is ready for equity and debt financing.
4. Construction (4-6 yrs)
Key Outputs: Financial close, infrastructure build-out.
Investor Relevance: Requires the formation of an investment syndicate.
5. Production
Key Outputs: Ramp-up to full capacity, meeting offtake terms.
Investor Relevance: Long-term offtake agreements and scale-up phase.
The Investor's Checklist: What Funders Demand
Securing international finance is contingent on meeting a rigorous set of criteria. Projects must demonstrate not only geological promise but also technical maturity, commercial viability, and an unwavering commitment to transparency and sustainability.
Strategic Relevance
Commodity is listed as "Critical" by the EU; project addresses a clear supply chain risk.
Technical Maturity
Minimum Pre-Feasibility Study (PFS) with JORC/NI 43-101 resource estimates.
Offtake Potential
Memorandum of Understanding (MoU) or Letter of Intent (LOI) from credible off-takers.
Governance & Transparency
Clear ownership and legal structure, with a commitment to clean business practices.
ESG: The Non-Negotiable Ticket to Finance
Compliance with IFC Performance Standards, IRMA, or TSM is mandatory. No ESG means no funding.
"Bridging Mongolian resource potential with international finance and ESG excellence."
SERVICE OVERVIEW
MTB CONSULTS is a strategic advisory firm specialized in:
- Critical raw materials (CRM) project development
- ESG & permitting compliance
- Investment readiness & international funding acquisition
- EU-aligned project structuring for global supply chains
Our mission is to empower Mongolian project developers with world-class consulting services to ensure successful development, financing, and sustainable operation of CRM assets — including copper, rare earth elements, lithium, fluorspar, graphite, cobalt, molybdenum, PGMs, tungsten, and others.
1. Strategic Project Development Advisory
Goal: Turn promising mineral deposits into financeable, investor-ready CRM projects
📍 Project Structuring
- Selection of optimal company and project structure (SPV setup, shareholding structure, SOE/private JV coordination)
- Legal and regulatory navigation for exploration and mining license conversion
📍 Feasibility Support
- Scoping, PFS/DFS review & guidance
- Coordination with qualified persons (QPs) for JORC/NI 43-101 resource statements
- Technical documentation for investor engagement (summary technical memos, maps, cost curves)
📍 Data Room & Deal Prep
- Full investor-ready digital data room (geology, studies, permits, ESG plans)
- Investment teaser and comprehensive project deck preparation
- Pre-negotiation support with equity partners, off-takers, or technology providers
Deliverables:
- Structured investment prospectus
- JORC/NI-compliant technical summary for funders
- Data package suitable for Rohstofffonds, EBRD, EU Global Gateway, IFC, etc.
2. ESG Compliance & Social License Advisory
Goal: Achieve global ESG standards and build a resilient social license to operate (SLO)
🌱 ESIA Development & Oversight
- Coordination of Environmental and Social Impact Assessment (ESIA) to IFC, IRMA, or TSM standards
- Stakeholder engagement strategy with herder communities and soum/aimag governments
♻️ ESG Gap Analysis & Planning
- IRMA/TSM benchmark review and gap identification
- Tailored ESG Action Plan with indicators and timelines
🔍 Governance & Transparency
- Support with EITI compliance (financial disclosures, royalty tracking)
- Corporate governance structuring to align with DFI expectations
📊 Sustainability Reporting
- ESG reporting templates (aligned with EU/IFC norms)
- Support for first annual Sustainability Report or ESG Dashboard
Deliverables:
- ESIA roadmap and TORs (for hiring approved consultants)
- ESG action plan aligned with EU and German funder expectations
- Investor-grade ESG summary report and grievance mechanism design
3. Investment & Funding Facilitation
Goal: Mobilize international capital (equity, debt, blended) for Mongolian CRM projects
💼 Investor & Off-taker Engagement
- Identify and engage strategic investors (EU raw material users, Japanese/Korean partners, EV producers)
- Support in signing non-disclosure agreements, data sharing, MoUs or offtake LOIs
💰 Funding Application Support
- German Rohstofffonds application: eligibility assessment, documentation, ESG proofing
- EU Global Gateway concept notes and EIB blending support
- Coordination with EBRD, IFC, ADB for project prep or debt financing
🧾 Document Preparation & Submission
- Full investor/funder application packages including: Project fact sheets, Use of proceeds plan, ESG proof (IRMA/TSM status, ESG scorecard), CAPEX/OPEX breakdown and financing strategy
📎 Due Diligence Coordination
- Set up and manage legal, technical, ESG, and financial due diligence
- Act as liaison between project owner and funders’ assessment teams
Deliverables:
- Funding applications (Rohstofffonds, EBRD, Global Gateway, etc.)
- Term sheets and negotiation support documents
- Structured investor pitch materials and FAQs
4. Public Affairs & CRM Positioning
Goal: Elevate the profile of the project and Mongolia in global CRM investment dialogues
🧭 Policy Alignment Support
- Advise developers on how to align project strategy with the EU CRMA, US IRA, and MSP goals
- Support in building partnerships under EU CRM Partnerships, JOGMEC, KORES, or ERMA programs
🌍 Project Visibility & Events
- Represent or prepare materials for global CRM summits (e.g. Raw Materials Week, ERMA Days, Indaba, PDAC)
- Organization of EU–Mongolia CRM Investor Days or Mongolian participation in Global Gateway events
📣 Narrative & Branding Development
- Help craft project messaging for policy stakeholders
- Support publication of case studies (e.g. “first TSM-compliant REE mine in Mongolia”) in global ESG newsletters or funder reports
Deliverables:
- Government-facing policy memos
- Branded investor communication kit
- Stakeholder map and influence strategy
✅ Why MTB CONSULTS?
| Strength | Description |
|---|---|
| Local Know-how | In-depth understanding of Mongolian mining, permitting, and community norms |
| Global ESG Expertise | Alignment with IRMA, IFC, TSM, and EU taxonomy standards |
| Investor Network Access | Relationships with EU funders, Rohstofffonds, ERMA, EBRD, battery alliances |
| Multilingual Capacity | English–German–Mongolian documentation, translation & policy fluency |
| Integrated Support | From geology to ESG to finance – end-to-end project development |