The amendment to the Constitution of Mongolia, approved by
Parliament on November 14, 2019, enshrines several key principles
for responsible resource management. First, it mandates a long-term
development policy for utilizing natural resources. Second, it
guarantees the right to a healthy and safe environment for all
present and future generations. Third, it emphasizes that the
benefits of subsoil resources should be concentrated in the
Sovereign Wealth Fund and distributed equitably and fairly.
Finally, it establishes the principle of public ownership over
strategic mineral deposits, with a legal framework ensuring
majority benefits flow to the people. This commitment to
responsible resource use is further solidified by the newly
approved Sovereign Wealth Fund Law in April 2024, alongside
amendments to existing legislations.
