Via Barron’s, a brief look at Mongolia’s natural resource potential, in light of the country’s recent decision to abolish a windfall-profits tax on gold and copper, an impediment that many felt had held back development.  As the article notes:

“…Tsakhiagiin Elbegdorj, president of the central Asian democracy that is wedged between Russia and China, was in town for the opening of the U.N. General Assembly, talking up his country’s “tremendous” natural resources. A major impediment to developing those resources was removed late last month, when the Parliament abolished a windfall-profits tax on gold and copper.

Any day now, the Mongolian government is expected to ink a final agreement wit Canada’s Ivanhoe Mines and its partner, Rio Tinto, for the development of a $3 billion copper and gold mine, Toy Tolgoi.

…Once that agreement is reached, it is on to the next natural-resources bonanza, coal…”