Another Point of view on Ivanhoe and Mongolia Mine.

Mongolia could soon be home to the largest copper mine in the world.
After years of negotiations, Western mining companies Rio Tinto and Ivanhoe are close to reaching an agreement with the Mongolian parliament to develop the Oyu Tolgoi mine.   The untapped deposit may contain 78 billion pounds of copper and 45 million ounces of gold. If all goes to plan, the massive investment would double the size of Mongolia's economy and create thousands of jobs.
The country’s nomadic herders – 40 percent of the population – are struggling and some are hailing Oyu Tolgoi as an immediate economic fix with some caveates: Mongolia is said to have a government corruption problem.  Additionally, there are suggestions that Russia and China may have inordinate influence over Mongolia’s mining industry.  For many nomadic herders, shifting to industrial mining jobs is far from ideal, but there isn’t much else to turn to. People are desperate now that raw cashmere and other materials do not provide a reliable way to feed and clothe families.

Hard economic times paved the way to close the deal after more than 5 years of difficult negotiations.

source: Mines in Mongolia on Globalenvision by  Haley Dillan