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...a victory by opposition Democratic Party (DP) candidate Tsakhiagiin Elbegdorj over incumbent Nambariin Enkhbayar of the ruling Mongolian People's Revolutionary Party (MPRP) could set back foreign investors' long-term interests.

"If Elbegdorj wins, that would be a pretty strong signal of probably more complications in policy making over mining, given his track record on anti-foreign and populist inclinations," said Damien Ma with political risk consultancy Eurasia Group.

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