Mongolia has a relatively undeveloped mining sector that holds great potential. Mongolia is rich in metals such as gold and copper, and minerals such as coal and fluorspar (fluorite). While not yet one of the top 10 copper producers in the world, it could well become one once its copper resources are fully tapped into. One relatively unexplored area is uranium production. The presence of uranium reserves was highlighted first in the 1970s by Soviet prospectors. Mongolia's potential as a uranium exporter is now being actively explored by Solomon Resources. Mining contributes significantly to Mongolia's GDP and is fuelling economic growth. In 2007, the real growth rate stood at 9.9%, mostly owing to high metal prices globally and high demand for copper from neighbouring China. Traditionally, Mongolia's economy has been based around agriculture. Very quickly, the country is having to refocus and modernise as it transforms into a mining nation. Specific challenges to this programme include poor infrastructure and high levels of poverty. Most of the country's roads are unpaved, as are most of its airstrips. A land-locked country, Mongolia cannot directly utilise shipping channels for its exports. The Trans-Mongolian railway comprises the only significant rail infrastructure, linking Mongolia to its neighbours China and Russia. Meanwhile, nearly a third of Mongolia's inhabitants live below the poverty line. In addition to ailing infrastructure, further downside risks to mining operations in Mongolia include severe weather, the possibility of earthquakes, increasing corruption at all levels of administration and rising levels of crime, particularly around Ulaanbaatar. These issues notwithstanding, the level of risk should not be overplayed. Key participants in the mining sector include: Centerra Gold, Erdene Gold, Ivanhoe Mines, QGX, Solomon Resources, and South Gobi Energy Resources (a subsidiary of Ivanhoe Mines). Key export markets include China, Canada, Japan, South Korea and the US.
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Report Table of Contents:
Executive Summary
-- Special Focus: Outlook for Global Mining
Table: Biggest Chinese Acquisitions In Australia Since 2005
-- Industry Trends and Developments
-- Overview
-- Regulatory Structure
-- Recent Developments
-- Key Projects
-- Metals
-- Gold
-- Copper
-- Minerals
-- Fluorspar
-- Coal
-- Mining Business Environment
-- Asia Pacific Mining Business Environment
Table: Regional Mining Business Environment Ratings
-- Mongolia - Business Environment Ranking
-- Limits of Potential Returns
-- Risks to Realisation of Returns
-- Legal Framework
-- Property Rights
-- Physical Infrastructure
-- Labour Force
-- Foreign Investment Policy
-- Operational Risk
-- Political Environment
-- Industry Forecast Scenario
-- Metal Prices Outlook
-- Commodities Forecast - Copper To Average US$6,500/tonne In 2010
Table: Bmi Copper Forecast
Table: Copper, 2005-2011
-- Market Strategy - Aluminium Update: Downside Risks To Average Price of US$2,100/tonne In 2010
Table: Bmi Aluminium Forecast
Table: Aluminium, 2005-2011
-- Market Strategy - Lead Update: Downside Risks To Average Price of US$2,300/tonne In 2010
Table: BMI Lead Update
Table: Lead, 2005-2011
-- Global Industry Overview
-- Mongolia's Mining Industry Forecast
Table: Mongolia Mining Industry Data and Forecast, 2007-2014
-- Competitive Landscape
-- Company Monitor
-- Centerra Gold Inc
-- Erdene Gold Inc
-- Ivanhoe Mines
-- Solomon Resources Limited
-- SouthGobi Energy Resources Ltd
-- Appendices
-- Appendix A: Global Assumptions Q2 2010
Table: Global Assumptions
Table: Developed States, Real Gdp Growth Forecast
Table: Emerging Markets
Table: Global & Regional Real Gdp Growth
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