Wood has been selected by the Mongolian National Rare Earth Corporation (MNREC) to deliver a definitive feasibility study for its Khalzan Buregtei rare earth elements (REE) project in Mongolia.

Following the successful completion of its pre-feasibility study in 2024, Wood will now lead the next phase, covering the project concentrator and refinery process plants acting as the lead consultant for the delivery of the overall feasibility study on MNREC’s behalf.

The Khalzan Buregtei deposit is poised to become one of the world’s few active sources of heavy rare earth elements, including dysprosium—critical for high-tech manufacturing and green energy technologies. As global demand for these materials grows, the project represents a vital step toward securing sustainable supply chains.

Alan Langridge, Senior Vice President for Minerals and Metals at Wood, said: “Rare earth elements are critical to sustaining modern technology and enabling the energy transition. Delivering the Khalzan Buregtei project will significantly contribute to global supplies of these critical materials.

Mongolia has the potential to become a hub for mineral activity in the coming decades. This newest contract underpins Wood’s strategic growth in Mongolia and our commitment to developing its local workforce and economy.”

Tsolmon Adiya, CEO at MNREC, said: “Wood has been instrumental in assessing the economic and technical viability of Khalzan Buregtei thus far, focusing on resource evaluation, potential processing technologies and environmental impact. We look forward to continuing to strengthen our relationship as we enter the next phase of this groundbreaking project.”