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Analysis

Mining Mongolia: what potential does this land-locked country hold?

Mongolia recently cancelled an executive order to fund the giant Tavan Tolgoi coal project through an international initial public offering (IPO), blaming political problems and unfavourable financial markets. Instead, the country is to self-fund the project, with expectations to finish it in three to four years. Such a situation is typical for the country that, though it is said to have billions of dollars’ worth of mineral wealth, has consistently struggled to capture international investors. We report.

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