Who Owns Mongolia?

Mongolia's economy is dominated by a handful of large conglomerates and state-owned enterprises. Mining accounts for roughly 30% of GDP, but the ownership structures behind these companies are often opaque. This database lets you search, filter, and compare the country's top companies by sector, revenue, and foreign ownership status — a first step toward corporate transparency.

The concentration is striking: the top five mining companies alone generate more revenue than the entire banking and telecom sectors combined. Foreign ownership is highest in mining, where Rio Tinto's majority stake in Oyu Tolgoi makes it the single largest foreign-controlled asset in the country. The question of who benefits from Mongolia's mineral wealth remains the central economic debate.