Mongolia All Set for Mining Boom

By Joel ScanlonApr 21 2011

Mongolia is now set to make its mark on the global mining stage. The nascent industry has been receiving expressions of interest from international investors ever since the riches beneath the Gobi desert have been discovered.

Its unique location and proximity to China have seen the demand for its local mineral resources soar. With the beginning of development of the Oyu Tolgoi copper deposit and the Tavan Tolgoi coal basin Mongolia’s mining future seems certain and secure.

Now the Mongolian government is interested in infrastructure development to help the mining industry bloom to its full potential. Plans to quadruple the existing rail network exist to enable Mongolia to transport its coal, copper and rare earth elements to nations like Japan and South Korea. This is in hope to reduce the dependence of the Mongolians on the Chinese market.

The landlocked desert nation is one of the world’s most sparsely populated nations. This does not stop economic growth analysts from saying that its economy will surge 23% in 2013 once the larger mining projects currently under development begin production. The tide is turning for Mongolia slowly as it goes from being one of the most isolated spots on the globe to being a current hot spot for the global mining industry.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). Mongolia All Set for Mining Boom. AZoMining. Retrieved on November 22, 2024 from https://www.azomining.com/News.aspx?newsID=3968.
MLA
Scanlon, Joel. "Mongolia All Set for Mining Boom". AZoMining. 22 November 2024. <https://www.azomining.com/News.aspx?newsID=3968>.
Chicago
Scanlon, Joel. "Mongolia All Set for Mining Boom". AZoMining. https://www.azomining.com/News.aspx?newsID=3968. (accessed November 22, 2024).
Harvard
Scanlon, Joel. 2019. Mongolia All Set for Mining Boom. AZoMining, viewed 22 November 2024, https://www.azomining.com/News.aspx?newsID=3968.