Mongolia
Over the last 25 years, Mongolia has become a living democracy. The economy in Mongolia has developed very slowly from an original agricultural land in the course of the 20th century. Characteristic in Mongolia are still the nomadic cattle breeders who live in about 1500 bags.
Kennzeichnend sind in der Mongolei nach wie vor die in rund 1500 Bags lebenden nomadischen Viehzüchter.
Industrial Development
Industrial development included the mechanization of agriculture and the exploitation of important resources such as copper, coal, molybdenum, tin, tungsten and gold. Mongolia is one of the ten most resource-rich states in the world.
However, many companies are foreign-owned. The Erdenet Mining Corporation in Erdenet, founded in 1974, operates the world’s fourth largest copper mine and is 49% Russian-owned. The Boroo Gold Mine is 95% owned by the Canadian mining company Centerra Gold. The Rio Tinto Group controls 66% of the Ojuu Tolgoi mine, the state share is 34%.
Hedging & Refinancing Options
According to the Country Risk Classification published by the OECD, hedging and refinancing options are available.
