Mongolia seeks more profit from rich coal deposits

International coal miners are flocking to Mongolia, lured by the landlocked country’s rich coal deposits and booming demand from its giant neighbour China.

But investors are wary of Mongolia’s new minerals legislation, which allows the government to own a percentage of strategic mineral deposits without clarifying the terms of the state’s investment.

Mongolia is fearful of turning into a mere raw materials exporter and is seeking ways to keep jobs and profits at home.
Reuters