mineral exploration project – commodity prices – mining stock- trade and market

Mongolia mining industry is set to become a leading copper exporter after signing an agreement to develop a huge deposit near the Chinese border.

The country has signed up with mining companies including Rio Tinto to mine Oyu Tolgoi, a copper-gold deposit in the south Gobi desert.

The project’s earnings stand to make up one third of the country’s gross domestic product and produce 450,000 tonnes of copper a year once its nine-year, $4bn (£2.5bn) construction is complete. That compares with 1.2m tonnes produced last year at the world’s largest copper mine.

Find More Other News : Copper Mining Exploration - Mining Industry - Mining Investment