I was surfing the web today looking for new ideas. Many of you know that I have an interest (an academic interest for now) in the rare earth metals. I went over today to:
seekingalpha.com (a large financial website I have not explored much)
and found a link right there near the top about the boom in Mongolia.
Mongolia apparently means business! Two of the links (below) are American investors who went over for a look and liked what they saw. Mongolian Customs gave them no problems getting in, no silly questions.
I had noticed a little bit about Mongolia because of an ad I had seen at Zero Hedge (a rare earth miner that has just sent core samples to a Korean lab for analysis).
Mongolia is interested in having AMERICANS help them out because they distrust the Chinese (and perhaps the Russians as well).
Ivanhoe and Rio Tinto (I think, might be BHP, I just read the article once) are well underway in starting up a HUGE copper and gold mine there. Apparently miners have already estimated over $1 trillion in minerals alone, and the country is has NOT been explored well. Mongolia is HUGE (about twice the size of Texas), but with only 3.1 million people.
I read that a Mongolia ETF is on its way...
Here are three links:
www.mongoliaeconomy.blogspot.com (rather good!)
www.adventuresincapitalism.com (the author also has been to Mongolia recently)
www.seekingalpha.com has a direct link to John Polomny's blog, he just came back from Mongolia.
my buddy went there last year and liked what he saw.
ReplyDeleteThe country is undergoing MASSIVE change
do your diligence, mongolia is alot like the days of the wild west
I know little about the place except as RM says it's rich in natural resources.
ReplyDeleteIt is an astute thought that the people will be suspicious of Chinese and Russians.
Robert: please keep us updated on the Mongolian ETF :)