1945

Mongolia is a large, sparsely populated country that lies between China and the Russian Federation, with vast deserts covering a large part of its land mass (the Gobi Desert to the south and extending into northern China). The country is endowed with substantial mineral resources such as copper, coal, gold, uranium, and other rare metals, and as such, it is one of the lowest-cost mineral producers in the world. In particular, it has among the largest copper and gold mines and coal deposits. However, most of the reserves remain unexploited and unexplored. The government’s demand for a large share of the resource rents has been deterring major mining companies (although recently there has been some progress). Overall, proven reserves are valued at around US$1 trillion, and much of the country is yet to be prospected (IMF 2017).

Countries: Mongolia
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