economy

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Mongolia Economic Report

Mongolia is a landlocked and sparsely populated nation in Central Asia, wedged between Russia and China. The country was a Soviet satellite state until 1990, when it began its transition towards democracy and a market economy. The first years of this transition were difficult for Mongolia; the country was dependant on Soviet financial assistance and its economy primarily based on animal husbandry and nomadic herding. Economic collapse saw rampant inflation, food rationing and widespread shortages.

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Four reasons why ‘One Belt, One Road’ could help unleash Mongolia’s copper potential

 

The ‘One Belt, One Road’ (OBOR) initiative, launched by Xi Jingping, is more than an ambitious infrastructure project. It is perhaps the largest in history. It’s also the Chinese Premier’s legacy. With constitutional changes now permitting him to remain in office for life, there is an ever greater possibility of its delivery. Countries touched by it can look to consolidate trade with China, and benefit from the infrastructure dividend it brings. Here we set out four reasons why it could unleash Mongolia’s copper potential:

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Gold in the Gobi: Oyu Tolgoi production set to double in 2018

 

Mongolia’s gold industry is expected to see a major boost in 2018, with the Oyu Tolgoi mine set to double its output to between 240,000 to 280,000 ounces. As Oyu Tolgoi enters its later phases, higher grades and increased recovery will significantly enhance the projects capacity. This will further propel the recovery of the Mongolian economy.

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What does Aspire’s latest finding mean for Mongolian coal?

 

In 2017, Mongolia’s coal deposits helped the country move to recovery. Often associated with toxic emissions- and in Mongolia’s case, chronic air pollution- it was instrumental in the delivery of growth exceeding 5%. The reasons are well documented and understandable. Even with more muted industrialisation, China is a key steel producer and relies on coal to power its mills. As my colleague recently reported, though, Xi Jingping and others are genuinely making green overtures, and this led to the closure of hundreds of mines in Inner Mongolia last year. Combined with a ban on North Korean imports, this placed Mongolia as a key exporter.

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Foreign Mining Companies

 

Below is a listing of the non-Mongolian mining companies active in Mongolia. Many of them trade on stock exchanges around the world.

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