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Mongolian tribes were unified under the Chinggis Khaan (Genghis Khan), who found Great Mongolian Empire in 1206. Centuries after his rein, in 1921, Mongolia became first Asian Communist country.
In 1991, then Mongols shifted peacefully to a democratic political system as Asian first democratic country. Over the last two decades, the free market and democratic process has brought great changes to Mongolia.
Mongolia is a landlocked country, located between Russia and China. It has an area of 1,566,000 sq km (610,740 sq mi), and its average altitude is 1,580 m above sea level. Mongolia is made up of vast semi-desert and desert plains, mountains in west and south-west, and the Gobi Desert in south east of it, where big copper and coal deposits are located.
Mongolian climate is same as Central Europe, Northern part of United States and Canada. Total annual rainfall averages approx. 220 mm in Mongolia. Much of the precipitation falls as rain during the short summit, while winter is generally dry and extremely cold. The average summer temperature as about 25C, while winter temperatures average minus 25C.
Extensive grasslands cover approximately 65% of the land, while the Gobi desert dominates the south of Mongolia, Forests and mountains cover approximately 12% of the total land area, for the most part in the country's northern most regions.
Mongolia's vast territory has rich mineral deposits including gold, copper, coal, fluorspar, silver, uranium; 24.8% of the Mongolian territory is covered by general exploration work and geological mapping at scale of 1:50,000.
Historical and recent geological exploration have covered only a fraction of Mongolia's territory leaving plenty of room for rewarding additional geological exploration, especially for gold, copper and other metals- commodities in high demand on international markets. While the production of most minerals declined during the 1990's due to the painful transition to a market economy, gold production nevertheless increased ten-fold. At the same time, exploration by Mongolian and more especially by foreign investors has increased tremendously.
While Mongolia's mineral potential evaluation was hampered in the past by limited infrastructure, a command economy, and other governmental restrictions, these barriers to exploration are now being dismantled. An improved business environment combined with the availability of an extensive geological database and numerous deposits and occurrences of gold, copper, base metals and other minerals has led to increased foreign investment in mineral exploration, boosting the sector's growth and development.
It is likely that new ventures may turn out to be outstanding discoveries for investors who to enter Mongolia's mining sector. These opportunities are facilitated by a supportive government attitude and an alluring foreign investment business environment. The Mongolian Government and many local companies are eager to work with foreign investors who can provide new capital investment, facilitate technology transfer and introduce modem mine management, who are also seen as new channels and bridges for new markets for Mongolia's mineral products.