Number crunching: Mongolia | Features | The Lawyer: "The reason for this growth? Mining. Estimates suggest that Mongolia has $1.3tr (£820bn) worth of untapped mineral resources, although managing the country’s mineral resources is an ongoing issue.
In spite of any issues, there are clearly a number of foreign companies interested in investing in the Mongolian minerals market. For example, Aluminium Corporation of China (Chinalco), which is undertaking a number of mining projects in Mongolia, has owned a 12.9 per cent stake in Rio Tinto since 2008.
According to data compiled by Thomson Reuters, of the 85 deals that took place in the Mongolian market between 2009 and 16 May 2012, 66 were related to the mining and metals sector. Of the deals where values are given only two exceed the $100m mark. The largest was in May 2011, when Mongolia’s primary coking coal producer Mongolian Mining Corp (MMC) acquired QGX Coal from Kerry Mining for $950m."
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