Mongolia: Fast growing economy, evolving investment climate: "There are two world class mines that hold the key to economic success in Mongolia, namely Tavan Tolgoi, one of the world's largest coking coal deposits, and Oyu Tolgoi, the largest underdeveloped copper/gold project. The IMF estimated that export proceeds from these two mines could total US$2 billion in 2013, rising to US$7 billion by 2020, while Mongolia’s GDP in 2011 was only $8.8 billion.
With the expected $3 billion Tavan Tolgoi IPO this year and commercial production of Oyu Tolgoi to commence in first half 2013, it appears the Mongolia economy is poised to maintain good momentum. Mongolia’s average real GDP growth is projected to be 13.4% annually over the coming 5 years due to mining initiatives, according to IMF’s World Economic Outlook 2012."
'via Blog this'
