Wealth Wire: Mongolia’s Mining Boom

Mongolia was once a small nation of herders and farmers raising livestock. But the booming mine industry is changing that almost overnight… Ulaanbaatar, the capital of Mongolia, is an awkward adolescent of a city, one that Mongolia expert Christian DeHaemer described “former Soviet-style apartments…ugly grey buildings” and a “top-notch four-star” hotel within a short distance of one another. Similarly, the shops and high-end establishments that are livening up this old ghost town. But nearby Oyu Tologoi, referred to as “OT,” is where the real money is coming in. OT houses a massive copper mine that was built up with help from China, which sent supplies and even provided electricity until Mongolia was able to build up its own power plant. To read the full article, click hereMongolia’s Mining Boom

This entry was posted in Mongolia News. Bookmark the permalink.

Comments are closed.