As Copper Booms - Miners Take Hunt To Mongolian Dunes

For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant Oyu Tolgoi project. Geologists say deposits like Oyu Tolgoi - meaning Turquoise Hill because of the staining of the rocks by oxidized copper - rarely occur in isolation. That means, for some miners, the chances of finding another make the east Asian nation worth a calculated gamble, especially given its proximity to the world’s biggest copper consumer, China. The new charge is led by a group of about half a dozen smaller players, including Australia’s Xanadu Mines (XAM.AX), Canada’s Kincora Copper (KCC.V) and U.S. company Wood Capital Partners, which have higher risk appetites and are seeking to steal a march on competitors. 

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Isn’t it simpler to just melt all the 1980 and earlier pennies that are in circulation:)

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It will be a good try, nothing more...

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The problem with Mongolia isn't the lack of resources, but the lack of infrastructure. Even if you discover another mine with millions of tons of mineral, it's incredibly time consuming to export it as the main logistical networks are so jammed. 

The country is also ran by a business elite who feel entitled to bribes, which slows down a lot of projects and plans.

There's a long way to go in Mongolia...

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