The Vancouver Sun: Miners’ motherlode Mongolia faces instability ahead of June elections

Mongolia is the darling of the mining industry, but there are questions about the country’s stability following the arrest of a former president in the heated political atmosphere ahead of June elections. Mongolia’s three million people are sitting on untapped precious metal and mineral resources worth an estimated $1 trillion and economic growth is barrelling along in double-digit figures, including 17.3 per cent last year. But since it emerged from the collapsed Soviet Union in 1990, Mongolia’s early successes with creating a vibrant democracy have subsided into bitter factionalism, outrageous corruption and incompetent government. The arrest 10 days ago of former president and now leading opposition leader Nambar Enkhbayar by agents of Mongolia’s Independent Authority Against Corruption (IAAC) is being widely seen as more of an example of extreme partisan politics than of an effort by the administration to come to grips with corruption. To read the full article, click hereMiners’ motherlode Mongolia faces instability ahead of June elections

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