The name of the town derives from Akkala Sámi word monce 'beautiful'. The name originally was intended for nearby Montshatuntur.
History
It was established in the 1930s as the inhabited locality of Moncha-Guba, which served copper and nickel mining in the Monchetundra Massif. It was granted work settlement status and renamed Monchegorsk by the Resolution of the Presidium of All-Russian Central Executive Committee on November 25, 1935. At the same time, it was transferred from Kolsky District to Kirovsky District. By 1937, the copper-nickel mining volume increased significantly, and, consequently, the area population grew as well. On February 19, 1937, the Presidium of the Murmansk OkrugExecutive Committee petitioned to create new Monchegorsky District by separating the town and its surrounding area from Kirovsky District and to grant Monchegorsk town status. As a result, town status was granted to Monchegorsk by the VTsIK Resolution of September 20, 1937, although no new district was formed. On October 10, 1937, Monchegorsk town council was subordinated directly to the Murmansk Okrug Executive Committee. On December 21, 1937, the Presidium of the Murmansk Okrug Executive Committee again petitioned to create a new district with the administrative center in Monchegorsk. In a letter to the Leningrad Oblast Executive Committee and the VTsIK, the Presidium noted that Kirovsky District has two developed but unrelated industrial centers—Kirovsk and Monchegorsk—with the latter having a larger population and being located away from the former. The petition was again unsuccessful—when on February 10, 1938 the VTsIK adopted a new Resolution changing the administrative-territorial structure of Leningrad Oblast, Monchegorsk remained a part of Kirovsky District. Monchegorsky District was eventually formed on December 27, 1938. It existed until December 9, 1949, when by the Decree of the Presidium of the Supreme Soviet of the Soviet Union Monchegorsk was elevated in status to that of a town under oblast jurisdiction, with the former district's territory passing into its subordination. By the August 10, 1981 Presidium of the Supreme Soviet of the Russian SFSR Decree, the town of Olenegorsk was elevated in status to that of a town under oblast jurisdiction and subsequently several inhabited localities previously subordinated to Monchegorsk were transferred to Olenegorsk by the August 26, 1981 Decision of the Murmansk Oblast Executive Committee.
Monchegorsk is a center of nickel cobalt and copper production. It also hosts the Monchegorsk air base of the Russian Air Force. The area surrounding the town is severely polluted. The Barents Euro-Arctic Council has listed Monchegorsk among the Barents Euro-Arctic region’s environmental hotspots, though it noted that the problem was gradually being solved. Since 1998, SO2 emissions in the Monchegorsk area have dropped by almost 60%, from 88.3 thousand tonnes to 37.3 thousand tonnes in 2016, according to Norilsk Nickel. The company launched a $20 billion environmental programme aimed at reducing emissions, modernising and closing down polluting facilities, as well as implement energy saving and lower energy consuming measures.
Sports
The bandy team Kolskaya GMK has played in the highest division of Russian Bandy League, last in 2010-2011. Their home arena has a capacity of 5000. Since 2009 there is also a female team.