Mongolia's mineral exports are plummeting. No wonder politicians want more of Oyu Tolgoi - M.A.D. Investment Solutions: "Turquoise Hill (formerly Ivanhoe Mines), majority owned by Rio Tinto, rejected the "request" saying the Vancouver-based company's nearly $6 billion already invested in the copper-gold project is legally protected under a deal signed in October 2009.
But as the red hot Mongolian economy starts to slow dramatically – by a full one third according to Mongolia’s central bank governor speaking on Hong Kong TV yesterday – from last year's torrid pace of 17%, Oyu Tolgoi, one of mining's most prized assets, will start to look increasingly attractive to politicians.
The country is also plagued by persistent high inflation currently at a rate of more than 15%. Standard & Poor’s yesterday also downgraded its outlook for Mongolia’s debt highlighting increased risks of volatility in the nation of fewer than three million people ranked number 155th in the world based on GDP per capita."
'via Blog this'
