Mining boom in Mongolia
Father and daughter, resettled by the Oyu Tolgoi mine.
So far there is no scientific evidence to prove these fears - but neither is there evidence to dispel them.
See photos from our investigations in Mongolia on flickr.
Download the study Spirited away - Mongolia's mining boom and the people that development left behind (pdf).
The EBRD finances the Ukhaa Khudag coal mine (within the Tavan Tolgoi coal deposit) and examines a potential investment in the Oyu Tolgoi gold and copper mine project.
Additionally, the Bank approved a USD 350 million loan for the Tsagaan Suvarga copper mine and loan and equity investments of 55 million in the Tayan Nuur iron ore mine.
The European Bank for Reconstruction and Development's investments in Mongolia are already heavily biased towards the natural resources sector. With more new mining projects appearing in the pipeline, the EBRD is not helping Mongolia to reduce its dependency on commodity exports.
Bankwatch suggests that rather than following the investment trend, the EBRD could better serve the Mongolian economy by diversifying its own portfolio in the country, e.g. through investments in agriculture, infrastructure, municipal and environmental services.
Online debate on the EBRD's mining strategy and mining projects in Mongolia
Following a discussion in the European Parliament on the EBRD's mining operations, Bankwatch organised a live-streamed google hangout with Mongolian campaigner Sukhgerel Dugersuren.
Watch the recording here:
News and updates
Rio Tinto's responsibilities in Mongolia extend beyond shareholders
February 15, 2013
The World Bank's climate hypocrisy
Bankwatch in the media
December 17, 2012
New report shows World Bank tough talk on climate is just a mirage in Mongolia's Gobi desert
December 14, 2012
'Comments noted', business as usual continues. The marginal public influence on the EBRD's new mining policy
November 2, 2012
World Bank and Others Poised to Invest in Rio Tinto’s Flawed Mongolian Mining Project
September 24, 2012
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