[1] The Erdenet Mining Corporation is one of the Mongolian state-owned enterprises and accounts for a majority of Mongolia's hard currency income.

According to legend, Chinese miners extracted copper there in earlier times, but during a storm, they were struck by lightning.

In the years 1958-59 a geological survey under the guidance of geologists for the first time examined Erdenetiyn-ovoo, but rated it as not having practical value.

The first joint Czech-Mongolian geological expedition in 1962 carried out this mission in Bulgan aimag Khubsugul and in particular on Erdenetiyn-ovoo.

By the autumn of 1972 the estimated size of the Erdenetiyn ovoo deposit was 2,000 m long, 500-1,500 m wide and 400 m deep.