Prime Minister S.Batbold said Mongolia will hire international investment banks to sell shares abroad. The Parliament has given the approval for the government to start the preparation to transfer gold, copper and coal reserves into companies that would then sell shares to global investors. This step is a demand and a necessity for Mongolia and it will potentially transform the country’s economy according to the Prime Minister. USD 25 billion of foreign investment over 5 years is needed to develop the metal and coal resources. USD 2 billion Tavan Tolgoi coal deposit is included in the list.
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