Coal’s Collapse Forces Mongolia to Rethink Its Mega-Project Ambitions

Just a year ago, Mongolia’s government was riding high on the back of record commodity prices, touting a bold “14 mega-projects” agenda to transform the country’s infrastructure and economy.

That ambitious blueprint, promising everything from mineral refineries to hydropower dams, was deemed so essential that it prompted the ruling Mongolian People's Party to form an unprecedented coalition with its rivals after the 2024 election, specifically to secure political consensus for its rapid implementation.

Today, that vision has collided with harsh fiscal reality.