Thursday, August 8, 2013

Mining the Gobi Desert: Rio Tinto and Mongolia Fight over Profits - SPIEGEL ONLINE

Mining the Gobi Desert: Rio Tinto and Mongolia Fight over Profits - SPIEGEL ONLINE

By early 2012, when the corporation took over the majority, miners had dug more...
Jonathan Browning/ DER SPIEGEL
By early 2012, when the corporation took over the majority, miners had dug more than 1,000 meters into the earth, and thousands of workers had conjured a small city out of the Gobi Desert, with an airport, a track for vehicles and power lines connecting the mine to China. The price of copper at this point was over $8,000. So much investment was pouring into the country that for a time its economy was growing at a rate of more than 17 percent.

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