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Overview of Mongolian Investment Climate
Frontier Securities, Aug 2010, Pages: 19
General overview and update on Mongolia' s Economy
Mongolia's neighbors are two of the most influential nations in the world - Russia and China. In 2009, the country's real GDP growth fell to negative due to global crisis and plummet of commodities prices. But with crisis recovery and mining sector booming, the country is expected to grow radically fast reaching even 21% growth when OT goes into production in 2013. Two digits growth is forecasted to continue for even longer period due to mining growth. Mongolia is rich with mineral commodities and has been increasingly exporting mineral products, mainly copper and coal, as high as 60% to 70% of total exports...
OT and TT, its potential growth
Oyu Tolgoi deposit has the copper and gold resources enough to become one of the top 3 in the world. This massive project, with investment of almost 5 billion USD in only preproduction captial, being undertaken by Ivanhoe Mines and Rio Tinto, will significantlyimpact not only Mongolian economy but Chinese as well, simply because almost all of these copper and gold will be exported to feed China's demand. Next major agreement in pipeline is the deposit with the largest untapped reserves of coking coal, Tavan Tolgoi. It is noteworthy that China's steel industry is currently booming, and coal is the single source of burning steel. This time the government owns the full rights to the deposit, and major international mining companies and consortiums are bidding for contractor agreement. Shenhua Energy is among the bidders and is in high favor by the decisionmakers, as well as US coal mining giant Peabody Resources: In fact, Peabody and Shenhua have agreed to bid together as united consortium to attract 25 billion USD investments in only 5 years.
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