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Mongolia’s mining sector “well placed” to grow

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World Coal,

Mongolia’s mining sector is “well placed for continued expansion over the next few years,” according to a new report from BMI Research, “as foreign investors continue to leverage the country’s significant mineral reserves, robust infrastructure framework and proximity to major export markets, such as China.”

According to the research company, the recent agreement between the Mongolian government and Rio Tinto over the Oyu Tolgoi mining project could herald a new phase of mining investment in the country, which has been rocked in recent years by uncertainty over political interference in the mining industry.

“It is difficult to understate the importance of Oyu Tolgoi in determining Mongolia’s long-term economic fortunes,” said BMI Research. “The development […] suggests that the government is likely to adopt a more benevolent stance towards foreign mining investment over the coming years, following a significant drop-off in foreign direct investment over 2013 and 2014.”

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