XANADU MINES
Xanadu Mines is indeed defining the value hidden in the soil of Mongolia , and discovering enough copper and gold to build untold numbers of pleasuredomes
On 10 February 1922 , the People ’ s Government of Mongolia signed a landmark resolution that brought a significant coal deposit in Nalaikh city under state control . By the end of the year , exploration on the deposit was complete , ushering in what is today considered the birth of the mining sector in the country .
In the 96 years that have followed , the mining industry has undergone a number of transformations as its role in Mongolia ’ s economy has steadily grown into one of its leading sectors of growth , responsible for producing 21 percent of its GDP , 70 percent of its total industrial output and 90 percent of its export product .
Coal , copper and gold form the principle reserves that are mined in abundance across Mongolia . The country hosts approximately ten percent of the world ’ s known
38 July 2017