Mining boom in Mongolia

Father and daughter, resettled by the Oyu Tolgoi mine.
The highly intensive mining industry with its need for immense water resources can pose precarious risks to the livelihoods of the herders in the Gobi desert.
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.
Institution: EBRD
Theme: Energy & climate, Social & economic impacts, Other harmful projects
Location: South Gobi area
Publications
May 14, 2012
April 6, 2012
March 23, 2012
March 13, 2012
January 30, 2012
News and updates
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EBRD energy lending report: conflicting investments end up contradicting climate science
Press releaseMay 17, 2012
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Mongolia as Minegolia? Paying the Price
Bankwatch in the mediaFebruary 16, 2012
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Australian miners test Mongolian frontier
Bankwatch in the mediaFebruary 3, 2012
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Mongolia: Mining Project Leaving Herders Without Livelihoods
Bankwatch in the mediaFebruary 2, 2012
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Bergbau-Bonanza in Mongolei bedroht lokale Bevölkerung und Klima
Bankwatch in the mediaFebruary 2, 2012
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