Mongolia, the land of Genghis Khan and nomadic herders, is in the midst of a remarkable transition. Rich in coal, gold and copper, this country of fewer than 3 million people in Central Asia is riding a mineral boom that is expected to more than double its GDP within a decade. The rapid changes simultaneously excite and unnerve many Mongolians, who hope mining can help pull many out of poverty, but worry it will ravage the environment and further erode the nation’s distinctive, nomadic identity. Much of the focus these days is on Oyu Tolgoi, a mega-mine in Mongolia’s South Gobi province, about 50 miles north of the Chinese border. The mine — owned by international mining giant Rio Tinto, Canada’s Ivanhoe Mines and the Mongolian government — is scheduled to produce its first copper ore in June and grow dramatically over the next five years.
See http://www.npr.org/2012/05/21/152683549/mineral-rich-mongolia-rapidly-becoming-minegolia.
Mongolia backtracks on state ownership of mining companies
Call it “resources nationalism” if you wish – or simply an attempt by government to secure the best possible returns from leasing out its mineral properties. In any event, political debate in Mongolia over terms of entry by foreign companies to its huge mining deposits, has wildly swung between extremes over the past few years. Now it seems that, if the present ruling party wins elections in June, all pretense at “capturing extractive wealth” for the people will have been virtually abandoned. This may be good news to Rio Tinto, involved at the Oyu Tolgoi copper-gold mine.
See http://www.minesandcommunities.org/article.php?a=11701.