Simply getting ready to mine is supercharging Mongolia's tiny economy. Its GDP grew 6.1 percent last year and was up 9.7 percent in the first quarter of 2011 from a year earlier.
“The mining sector could very well carry Mongolia for the next 50 years,” says Parmeshwar Ramlogan, the Ulaanbaatar-based resident representative for Mongolia at the International Monetary Fund.
Ramlogan predicts Mongolia could grow at double-digit rates for at least the next 10 years, raising per capita income -- now at $2,470 -- fourfold within a decade and making it one of the fastest-growing economies in the world.
This is why NBT is following and investing in Mongolia … and YOU should be too.
The market cap of just the MINING industry is on trajectory to grow from $5 billion to $60 billion over the next 10 years … there is NOWHERE on earth with that kind of market cap growth we know of.
This is the first of a set of Mongolian articles in the mainstream press … about every week since we returned from Mongolia in May! Read more here.
Founder and Editor-in-Chief for NBTEquitiesResearch.com. Contributor and Anchor for the Fox News Channel and Fox Business Network 2000-2013. Chairman & CEO of NBT Group, Inc., a boutique private capital investment bank and investor relations organization.