Mineral-Rich Mongolia Rapidly Becoming 'Mine-golia' : NPR: "What country had the world's fastest-growing economy last year?
If you guessed China or India, you'd be wrong.
In fact, it's Mongolia: Its economy grew at more than 17 percent in 2011, according to estimates. That's nearly twice as fast as China's.
The reason — in a word — is mining.
Mongolia is rich in copper, coal and gold, and it's in the midst of a mineral boom. This marks a profound change for a country where two out of every five people make their living herding livestock. Extractive industry has become so pervasive, some Mongolians now refer to their homeland as "Minegolia."
For the poor, landlocked nation of fewer than 3 million people, mining represents a remarkable opportunity, but one that's also loaded with risks."
'via Blog this'
