Mongolia is on the cusp of a mining boom. The commencement of production at the Oyu Tolgoi (OT) copper and gold mine in 2013 is set to transform the entire landscape of the country's mining industry.Situated in the South Gobi Desert, OT is Mongolia's main mining site and hosts rich deposits of copper,molybdenum, silver and gold. The OT project is the biggest economic undertaking in Mongolia's history and will account for one-third of the economy once it becomes fully operational in 2019.

BMI Industry View 7

SWOT 9

Industry Forecast 10

Coal: Tavan Tolgoi In Driving Seat 10

      Table: Mongolia - Select Coal Projects 11

      Table: Mongolia - Coal Production Forecast 13

Copper: Oyu Tolgoi To Take Charge 13

      Table: Mongolia - Largest Copper Projects 16

      Table: Mongolia - Copper Production Forecast 16

Gold: Set To Dazzle 16

      Table: Mongolia - Select Gold Projects 19

      Table: Mongolia - Gold Production Forecast 19

Industry Risk Reward Ratings 20

Resource Nationalism On The Retreat 20

Frontier Markets Losing Attraction 20

      Table: Asia Mining Risk/Reward Ratings 21

Country Highlights 21

Australia: An Improving Landscape 21

China: Darkening Outlook 22

India: Stumbling Blocks Remain, Despite Reforms 22

Indonesia: Further Policy Moderation Ahead 23

Mongolia: Government Unlikely To Overplay Its Hand 23

Philippines: Taxing Times 24

Japan: Little Potential In Sight 25

South Korea: Few Bright Spots 26

Market Overview 27

      Table: Mongolia - Mining Industry Value & Production Forecasts 28

Regulatory Development 29

Mongolian Minerals Law 31

Foreign Ownership Restrictions 31

Current Royalty Regime 31

Mine Closure Procedures 32

      Table: Asia - Mining Regulatory Scorecard 32

Corruption To Remain Key Concern 33

      Table: Mongolia Political Overview 34

Commodities Forecast 35

Commodity Strategy 35

Steel: Subdued Medium Term Outlook 37

Aluminium: Despite Recent Upswing, Underperformance To Persist 38

Copper: No Time To Celebrate Yet 39

Lead: Outperformance On The Cards 40

Nickel: Sideways Movement In Weeks Ahead 41

Zinc: Positive Momentum To Continue 43

      Table: Select Commodities - Performance & BMI Forecasts 44

      Table: BMI Commodities Strategy 45

Competitive Landscape 46

      Table: Mongolia - Financial Data Of Key Listed Companies 47

Company Profile 48

Centerra Gold 48

      Table: Centerra Gold - Key Financial Data 50

Turquoise Hill Resources 51

      Table: Turquoise Hill - Key Financial Data 54

Regional Overview 55

Asia Overview 55

Global Industry Overview 63

Methodology 75

Industry Forecast Methodology 75

Sources 76

Risk/Reward Rating Methodology 77

      Table: Mining Risk/Reward Ratings Indicators 79

      Table: Weighting Of Indicators 80

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