The Khust-Uul iron ore mine is located in Yuroo soum, Selenge province, 25 km southeast of Yuroo’s center, 330 km north of Ulaanbaatar, and 110 km northeast of Darkhan. The Dulaan-Khaan and Khust-Uul iron ore mines are connected by an improved road network.
The nearest railway line is 10 km north of the mine, while an improved gravel road leading to Bugant settlement (3 km south) passes near the site. Additionally, a high-voltage power line supplying Bayangol Mine and Bugant settlement runs through the area. License Number: MV-013815, Licensed Area: 39 hectares.
The Khust-Uul iron ore mine was first identified during regional prospecting in the Bayangol area (1979-1980) by geologist J. Tsend-Ayush. Later, in 1989-1991, during detailed exploration of the Tumurtai mine, geologist N. Khuderbat conducted an evaluation and assessment study, officially classifying Khust-Uul as an iron ore mine.
In 2010, Darkhan Metallurgical Plant funded and conducted detailed geological exploration of the mine. A feasibility study completed in 2011 by the Mining Project Research Center projected an annual iron ore production capacity of 1 million tons. However the project remains unimplemented.