Mongolia Missed the Gold Boom. Now It Is Racing to Catch Up
Feb 4
3 min read
With gold prices record high, powered by geopolitical stress and central bank buying, gold-rich Mongolia should be flush with cash. Instead, it faces a stark contradiction.
Copper-gold-silver Oyu Tolgoi mine is breaking production records, while the rest of the gold sector is shrinking. Billions in export revenue may have slipped away.
The government’s response, led by Industry and Mining Minister Gongoryn Damdinnyam, blends regulatory pressure with ambitious output targets.
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