몽골의 희토류 개발환경 분석

Abstract

This paper identifies the development value and production potential of Mongolia’s Rare Earth Elements(REEs) through Mongolia’s laws and determines whether Mongolia can be one of the alternatives to China. As industrial advancement and the era of carbon neutrality arrive, the usage and value of rare earth elements, which are used as essential raw materials for various high-tech industries, continue to increase. At a time when countries such as the United States, Japan, and Europe did not realize the importance of REEs, China monopolized the REEs industry for a long time by purchasing REEs mines around the world or investing heavily in and developing areas where rare earth elements were believed to be buried.
 Mongolia’s REEs are receiving attention as one of the alternatives to reduce China’s market dominance. However, the lack of Mongolia’s laws and infrastructure, proper geological surveys, and confidence in foreigners investing in Mongolia due to frequent policy changes are factors that impede development. In order to improve this, the Mongolian government continues to invite many foreign investors, making efforts to attract investment in the Mongolian mining sector, and is discussing restoring the foreign investment environment and improving the legal environment. It is believed that analysis of related laws is also important for Korea to cooperate with Mongolia in mineral development and production. In addition, Mongolia’s efforts to build infrastructure and the fact that it is seeking cooperation with Korea, the United States, and Japan are helping to create a foundation for future investment in Mongolia, which will enhance the possibility of REEs development.