Mongolian economic growth in recent years is stabilized at 10%, and China has been its largest trading partner and investor for consecutive 10 years, making a significant contribution to the local economy development.
Mining is the economic pillar of Mongolia worth 3 billion US dollars, accounting for 30% of its GDP and over 70% of the industrial products and about 80% of the total national export. The main minerals products include copper, gold, coal, tungsten, molybdenum, zinc, silver, oil, etc.
Oyu Tolgoi is the Mongolia’s largest copper mine and one of the world-class mining engineering projects. With the proven copper reserves of more than 30 million tons, 1328 tons of gold and 7600 tons of silver. It is expected that by the 2020 when underground mine was completed, Oyu Tolgoi gold-copper mine would be up to one third of Mongolia economic output. The copper production from this mine (the investment was reported to be of the order of US$ 5 billion) has been projected at 450,000 tonnes of copper for the next 50 years.