Mongolia: China's Canada? Beijing is reaching out to a former satellite of the Soviets

International Herald Tribune | July 10, 2004| | Copyright

James Brooke
International Herald Tribune
07-10-2004
Two weeks ago, China's largest copper company signed a letter of intent to study investing in Mongolia's largest mining project. This week, Mongolia's president, on a state visit to Beijing, invited China to drill for oil. Next month, zinc production is to start at a new $50 million Chinese mine in eastern Mongolia. To link it all together, Chinese aid is paying for Chinese crews this summer to pave major roads across Mongolia's steppes. More assistance may come from a $300 million loan offered by China's president when he stopped here ...

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