Australian mining companies are joining the international race to establish a massive coal industry in Mongolia.
Mongolia is the most sparsely populated country in the world, and has enormous untapped mineral reserves.
It’s bordered by China and India, the two biggest coal markets.
Mark Earley is the CEO of C@, an Australian company that plans to open its first Mongolian coal mine within three years.
He says the government there has been actively encouraging mining investment, so it can lift living standards and tackle the social issues of a 20-year-old democracy.
“Numerous social issues around drink, orphanages that are full of young children that don’t have parents,” he said.
“So the sort of growth that will come from mining, I hope a lot of that money will go back and sort out the social issues in Mongolia, because it’s got a very bright future.”
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