Foreign investors in Mongolia are playing a waiting game after this week's presidential election, hoping the new head of state will soon approve a major mining project that is key to jump-starting the economy.
Opposition Democratic Party (DP) candidate Tsakhiagiin Elbegdorj won the poll, promising to ensure that Mongolian citizens benefit more from the wealth lying underground.
The multi-billion-dollar question for investors now is whether the government will finally reach a deal on the massive Oyu Tolgoi copper and gold project with its potential developers, Ivanhoe Mines and Rio Tinto.
Mining investors await Mongolian signal - will Oyu Tolgoi move forward quickly?
Posted by Tamir 296 days ago (http://www.mineweb.com)
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