Australia takes a shine to MongoliaA Friday July 15 brief in the Australian Financial Review states:
"Steppe this way to ore galore ...
"Mining companies worldwide have turned their attention to Mongolia. Australian-listed miner BHP Billiton handed its stake in the Oyu Tolgo concession to Ivanhoe Mines in 2000. BHP may soon regret its actions, as Ivanhoe estimates that the region contains some 1.15 billion tonnes of resources, including copper and gold. Mongolia is hoping its resource rich land will entice foreign investors and global mining companies. The nation is hopeful that a boon in its mining industry will translate to better employment levels and economic growth. Mongolia altered its mining laws in 1997 in order to make the nation more appealing to foreign companies."