Mining Agreement To Propel Growth

The signing of a benchmark mining agreement between the Mongolian government and Canadian firm Ivanhoe , for the development of the Oyu Tolgoi copper and gold deposit, is looking increasingly likely for Q309. This will pave the way for other miners to enter the Mongolian market, propelling foreign direct investment and real GDP growth to record levels over the long term. We hold to our forecast for Mongolian real GDP growth to average 10.6% from 2010-2013.

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