Deutsche Welle
With an abundance of minerals and one of the world’s fastest growing economies, Mongolia is a hotspot for mining companies. But, lawmakers are struggling to ensure the environment doesn’t pay a heavy price.
It’s nearly the size of western Europe, but with less than three million people, Mongolia is the most sparsely populated country in the world. The Central Asian country also sits on a virtual treasure trove worth trillions of dollars. Buried beneath its sprawling landmass of rolling plateaus, lush grasslands, and sand swept deserts lies an abundance of minerals.
It’s no surprise then that large-scale mining companies from around the world continue flocking to the oft-dubbed “Saudi Arabia of Central Asia,” largely setting up shop in the gold, silver and copper-rich South Gobi region.
The mining giants have given a major boost to its economy: in 2014, Mongolia’s GDP is slated to spike by 15.3 percent, the highest growth rate in the world. In 2012, minerals comprised 30 percent of the GDP and more than 80 percent of exports, according to the Mongolia Research Hub of the Centre for Social Responsibility in Mining.