Thursday, April 14, 2011

CNBC piece on Mongolia

A very interesting CNBC piece on Mongolia came out today.

Few highlights from the article:

But it is not just gold reserves sitting in the mountains and deserts of Mongolia, a country similar in size to Alaska. The CIA world fact book says the North Asian country is also rich in copper, coal, molybdenum, fluorspar, uranium, tin and tungsten deposits.

“The undeveloped mineral wealth in Mongolia is spectacular – this is a country that really is sitting on a pot of gold. It has one of the largest undeveloped copper, gold and uranium deposits in the world and is believed to have the largest untapped supply of coal,”

“Thanks to positive recent political and economic developments, Mongolia is set for spectacular growth which is becoming noticed globally. And backed by its resource-rich landscape of world class deposits, Mongolia has been coined the “Saudi Arabia of Coal” with strong parallels to previous natural resource booms around the world,” he said. “Whilst Australia needs a rail road, a port, a ship and another port to get raw materials to China we can simply drive it into China over 300 kilometres of desert,” said Baatar, who admits big investment is needed to help get its huge natural resources to market.

Worth mentioning Mongolia Energy(ticker:MOAEF) is very diversified in its energy and metals portofolio with momentarily focus on coal and one of the most undervalued mining companies.

I`ve expressed my views on Mongolia Energy in a previous article.

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