The MCS Showdown: Mongolia’s Biggest Conglomerate Faces Government Scrutiny

Mongolia’s government has intensified its anti-corruption and anti-oligarch campaign, and the latest target is MCS Group, one of the country’s largest private conglomerates. At the center of the controversy is the Ukhaa Khudag coking coal mine which is part of the vast Tavan Tolgoi coal basin and is operated by Energy Resources LLC, a subsidiary of MCS Group (The broader Tavan Tolgoi deposit is primarily controlled by the state-owned Erdenes Tavan Tolgoi).

The government’s actions follow a familiar pattern: mounting scrutiny, arrests, and potential reassessment of past privatizations.