In the Bor-Ondur soum of Khentii aimag, a “Bor-Ondur” industrial and technological park is being established for the enrichment, processing, chemical production, and export of fluorspar, and it is planned to produce 97% fluorspar concentrate, hydrogen fluoride, aluminum fluoride, and fluoride products.

In the 21st century, fluorspar is considered a strategic resource and is being used strategically. Fluorspar is a non-metallic mineral that is not traded on international exchanges. Since fluorspar production is carried out in a complex with cement, ferrous and non-ferrous metallurgy, all countries in the world have banned its export in raw form, considering that it occupies a special position in the development of the country's industrialization. The total world reserves of fluorspar are estimated at 500 million tons. Mongolia accounts for 9% of fluorspar reserves, ranking fourth in the world after Mexico, China, and South Africa. Currently, our country has 163 deposits and 545 occurrences with 122 million tons of ore or 48.3 million tons of mineral reserves. More than 90 percent of the hydrofluoric acid reserves are concentrated in Tuv, Dornogovi, Khentii, Dundgovi, and Sukhbaatar aimags.

In recent years, our country has exported an average of about 300 thousand tons of metallurgical or whole fluorspar of grades FK-75, FK-85, and FK-92, about 150 thousand tons of flotation concentrate of grades FF-95, FF-97, and 300-600 thousand tons of hydrofluoric acid ore (calcium fluoride content 20-55%) in raw form. Therefore, by further developing chemical-technological production based on fluorspar resources, and primarily processing fluorspar concentrates to produce fluoride compounds, the business environment in the fluorspar industry will improve, product variety, competitiveness, and trade turnover will increase, and the country will become a producer and exporter of hydrofluoric acid and aluminum fluoride.

According to a study by Mordor Intelligence, the demand for fluoride in the global market is expected to grow by 7 percent annually until 2028 due to the growth of the chemical industry in the Asia-Pacific region after the pandemic, the increase in steel production, and the increase in demand for fluoropolymers used in lithium-ion batteries (derived from fluorspar). The largest players in the global fluorspar industry include Mexichem Fluor SA de CV (Koura) (Mexico), China Kings Resources Group Co. Ltd., (China), “Mongolrostsvetmet” SOE, Minersa Group (Spain), and Masan Resources Corporation (Vietnam).