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Mongolia may default in 2017 without urgent foreign funding, warns Eurasia
A political snafu with the world’s second-largest economy is no light matter for any country but for troubled Mongolia, it could mean a potential sovereign default.
Massive Mongolia coal deposits could revive its flagging economy
Former frontier market darling Mongolia has had a tough time in a world of low commodity prices, with its government struggling to make ends meet, but a spike in global coal prices could see the country stage a comeback.
Mongolia Vote Over, Rio Copper Exports May Get Go-Ahead
First copper exports from Rio Tinto’s $6.6 billion Oyu Tolgoi mine in Mongolia – believed to have been delayed due to populist pressures arising in the run-up to presidential elections this week – may start early next month after incumbent Tsakhia Elbegdorj secured a second four-year term, analysts said this week.
Investors Back Mongolia Despite Rio Mine Dispute
Renewed unease about sovereign and regulatory risk in Mongolia – triggered by a dispute between the government and mining giant Rio Tinto over the Oyu Tolgoi copper and gold project – is on the rise but shouldn’t erode confidence among longer term investors in the mineral-rich nation, said experts.
Mongolia May Drop Foreign Owners’ Cap in Mining: Sources
The Mongolian government is set to soften a proposed foreign investment law, which seeks to impose a 49 percent cap on foreign ownership in ‘strategic’ assets including the country’s booming mining sector, industry executives told CNBC.
Mongolia to Grow at 20% in 2012: Fund Manager
Mongolia could be the fastest growing economy in the world this year, with gross domestic product expanding 20 percent, according to Alisher Ali, Managing Partner at Silk Road Management. An increase in exports, government spending and major mining investments like Rio Tinto’s Oyu Tolgoi copper-gold mine will be the key drivers of growth. “You’re starting [...]
Ivanhoe Mine shares surge on Rio Tinto takeover
Shares of Canada’s Ivanhoe Mines Ltd. gained more than 5 percent in aftermarket trading on Thursday after majority shareholder Rio Tinto PLC disclosed that it is reviewing the company’s board and management structure in advance of likely changes.
Mongolia Per Capita GDP to Hit $5,000 by 2012: Govt Minister
Mongolia’s gross domestic product (GDP) per capita is on target to hit $5,000 by the end of 2012 from $2,470 currently, the country’s Vice Finance Minister, Ganhuyag Chuluun Hutagt told CNBC. The country’s economy grew 14.3 percent in real terms and 29.1 percent in nominal terms (including inflation) in the first half of this year. [...]
Buy Mining Plays with Assets In Mongolia: Pro
The Mongolian mining industry, which is to benefit from China’s huge appetite for resources, is a sector to bet on. One fund manager suggests investing in mining plays that are listed internationally, but have assets in Mongolia. “Mongolia will emerge as one of the most significant resource producers in Asia,” Alisher Ali, managing partner of [...]
China and Copper—A Dangerous Carry Trade
What would you do if you were a property developer or businessperson in China and needed to borrow money—but because loan demand was so strong and the government so concerned with easy credit, that normal financing was unavailable? According to Michael Pettis, these cash strapped business folk in China got incredibly creative with copper [HGCV1 [...]