Tuesday, May 23, 2017

Mongolia; a new mining boom?

CNBC:

A new mining boom may be just around the corner in Mongolia, mining industry executives said, as it moves to open nearly 21 percent, a bit more than one-fifth, of the country for exploration to shore up its finances following an IMF-led bailout.

(snip)

Andrew Stewart, managing director and CEO of Xanadu Mines, told CNBC's "Street Signs" that the reform along with other steps to opening the mining sector should see investment grow.

"It is an important thing for Mongolia as a whole. I think the reaction and the commitment you are seeing from the Mongolian government over the last two weeks to repeal this tax, it shows its firm commitment to really get the foreign investments going and particularly that is very much settled on the mineral exploration and the mining industry in Mongolia", Stewart said.

The economy is growing again. Nevertheless it will take a long time until investors feel comfortable dealing with Mongolia. I see the long term value so I continue to money to work in the country.

I see Mongolia Growth Group as a long term play. I also like Mongolia Mining as a speculation.


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