Mining

With a focus on curbing political risk to encourage new investment, Mongolian authorities are striving to build a competitive industry to develop the country’s abundant natural resources. Copper regained its place as Mongolia’s top export in 2014, and is the primary focus of new exploration alongside gold and niche minerals such as fluorspar and rare earth metals. While the coalition government has toned down its rhetoric of resource nationalisation, the challenge will be in implementing regulations and the treatment of existing disputes. Achieving a delicate balance between participating in projects and enabling private investment will be integral to commercialising strategic deposits, as well as building much-needed infrastructure. Despite recent delays, the government has made concerted efforts to rebuild investor confidence and expedite development of large projects, to the benefit of both the sector and the wider economy.

This chapter contains interviews with G. Batsukh, Chairman, Oyu Tolgoi; and George Lloyd, Managing Director, Xanadu Mines.