Mining firms from Australia, China, Russia and North America were digging up the vast country for the likes of gold and copper. Then in 2014 foreign investment began to fall along with a global decline in commodity prices. French investment bank Natixis expects zero growth this year in the $12 billion economy after a drop in investment last year. Minerals are selling for less around the world because of oversupply, weaker demand in China and a tandem drop in energy prices. Reforms in China to cut pollution and overproduction of coal have raised coal prices, a boon now to Mongolia’s economic outlook, Cashell notes.

Source: Forbes January 13, 2017 03:01 UTC