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Mongolia

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Australia, Ecuador, Mongolia, Portugal, Tanzania
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Education, Human Rights
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Environment
With a huge proliferation of minerals and mining companies investing in Mongoliaâ's economy, there have been devastating consequences for the environment in the pursuit of economic growth and sustainability.1 The other major concern with the mining companies flooding into Mongolia is the real threat of having a huge income gap develop, along with the biodiversity loss risk.2

Show References
1http://www.dw.de/mongolias-mining-boom-raises-environment-concerns/a-17534285
2 Ibid
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Mongolia News

News & Observer 
Mongolia's presidential election appeared headed for a runoff with the latest vote count early Tuesday showing a business tycoon leading the ruling party's candidate and a nationalist wanting the country to benefit more from its mineral wealth ... See more..
Foreign Affairs 
Mongolia's presidential election on June 26 comes amid economic turmoil, and the corruption, inequality, and poverty that have plagued the country since 1990 will significantly influence how the public votes. Just two weeks ago, a parliamentary working ... See more..
Washington Post 
On June 26, Mongolians will elect a president from among three candidates: Enkhbold Miyegombo, leader of the governing Mongolian People's Party (MPP); Battulga Khaltmaa, a former member of parliament from the main opposition Democratic Party (DP); ... See more..
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Philippine Star 
MANILA, Philippines - Power-hitting Felix Marcial dominated Chinese Jan Xo Ja and fashioned out a 5-0 victory to deliver the lone gold for Team Philippines in the Ulaanbaatar Cup 2017 in Mongolia last Sunday. Marcial, from Zamboanga City, overwhelmed ... See more..
Reuters 
BRIEF-Inner Mongolia Tianshou Technology & Development plans private placement for 1.30 bln yuan. June 27 Inner Mongolia Tianshou Technology & Development Co Ltd : * Says it plans to issue 321.8 million shares of the company in private placement to ... See more..
Atlas Obscura 
Subscribe me to the Atlas Obscura Newsletter. According to Mongolian Buddhism, a spot in the middle of the Gobi desert is where the strongest spiritual energy in the world converges. To mark the location, the monastery complex was built in the 19th ... See more..
The Diplomat 
Mongolia's presidential election campaign is in full swing, preparing for the vote on June 26. Posters have been hung in the capital Ulaanbaatar as well as in towns and in the countryside; video clips are running on TV. Massive amounts of mud ... See more..
Bloomberg 
Mongolia goes to the polls today after one of the ugliest campaigns in the country's history. Whoever wins faces an equally grim economic picture. The IMF is working to stabilize the economy with the aid of a $434M loan. Bloomberg's Enda Curran reports ... See more..
Reuters 
Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news ... See more..
Hellenic Shipping News Worldwide 
China's coal imports in May from Indonesia, Mongolia and Russia jumped in the strongest sign yet that foreign providers are filling the supply gap following China's ban on coal from North Korea. Shipments from Indonesia rose 25 per cent from a year ago ... See more..
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Geography

Northern Asia, between China and Russia
Area

Total 1,564,116 sq km
Land 1,553,556 sq km
Water 10,560 sq km

Climate

desert; continental (large daily and seasonal temperature ranges)
Natural Resources

oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver, iron ;
Natural Hazards

dust storms; grassland and forest fires; drought; "zud," which is harsh winter conditions
Current Environmental Issues

limited natural freshwater resources in some areas; the policies of former Communist regimes promoted rapid urbanization and industrial growth that had negative effects on the environment; the burning of soft coal in power plants and the lack of enforcement of environmental laws severely polluted the air in Ulaanbaatar; deforestation, overgrazing, and the converting of virgin land to agricultural production increased soil erosion from wind and rain; desertification and mining activities had a deleterious effect on the environment

Demographics

Nationality
Mongolian
Population
3,226,516 (July 2013 est.)
Ethnic Groups
Languages
Religions

Finances

Mongolia's extensive mineral deposits and attendant growth in mining-sector activities have transformed Mongolia's economy, which traditionally has been dependent on herding and agriculture. Mongolia's copper, gold, coal, molybdenum, fluorspar, uranium, tin, and tungsten deposits, among others, have attracted foreign direct investment. Soviet assistance, at its height one-third of GDP, disappeared almost overnight in 1990 and 1991 at the time of the dismantlement of the USSR. The following decade saw Mongolia endure both deep recession, because of political inaction and natural disasters, as well as economic growth, because of reform-embracing, free-market economics and extensive privatization of the formerly state-run economy. The ...See More country opened a fledgling stock exchange in 1991. Mongolia joined the World Trade Organization in 1997 and seeks to expand its participation in regional economic and trade regimes. Growth averaged nearly 9% per year in 2004-08 largely because of high copper prices globally and new gold production. By late 2008, Mongolia was hit hard by the global financial crisis. Slower global economic growth hurt the country's exports, notably copper, and slashed government revenues. As a result, Mongolia's real economy contracted 1.3% in 2009. In early 2009, the International Monetary Fund reached a $236 million Stand-by Arrangement with Mongolia and the country has largely emerged from the crisis with better regulations and closer supervision. The banking sector strengthened but weaknesses remain. In October 2009, Mongolia passed long-awaited legislation on an investment agreement to develop the Oyu Tolgoi mine, considered to be among the world's largest untapped copper deposits. Recent calls by nationalist politicians to renegotiate the investment agreement, however, have called into question the attractiveness of Mongolia as a destination for foreign direct investment. Negotiations to develop the massive Tavan Tolgoi coal field face similar obstacles. The economy grew by 6.4% in 2010, 17.5% in 2011, and by more than 12.3% in 2012, largely on the strength of commodity exports to nearby countries and high government spending domestically. Mongolia's economy, however, faces near-term economic risks from the government's loose fiscal policies, which are contributing to high inflation, and uncertainties in foreign demand for Mongolian exports. Trade with China represents more than half of Mongolia's total external trade - China receives more than 90% of Mongolia's exports. Mongolia purchases 95% of its petroleum products and a substantial amount of electric power from Russia, leaving it vulnerable to price increases. Due to severe winter weather in 2009-10, Mongolia lost 22% of its total livestock, and meat prices doubled. Inflation remained higher than 10% for much of 2010-12, due in part to higher food and fuel prices. The economic slowdown in China during 2011-2012 resulted in fewer Mongolian exports, a widened trade gap, and decreased government revenues, putting pressure on Mongolian fiscal policy. Remittances from Mongolians working abroad, particularly in South Korea, are significant. Show Less ;
GDP Purchasing Power Parity

$15.44 billion (2012 est.); $13.75 billion (2011 est.); $11.7 billion (2010 est.)
Agriculture Products

wheat, barley, vegetables, forage crops; sheep, goats, cattle, camels, horses
Industries

construction and construction materials; mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold); oil; food and beverages; processing of animal products, cashmere and natural fiber manufacturing