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Thousands rally in Mongolia over foreign mining concessions

Associated Press | March 30, 2016 | 5:29 am Base Metals Precious Metals Asia Europe Copper Gold 
Thousands rally in Mongolia over foreign mining concessions
Rio Tinto’s Oyu Tolgoi mine is a combined open pit and underground mining project in the south Gobi Desert. (Image: Wikimedia Commons)

A rare public protest in Mongolia’s capital on Wednesday drew thousands of demonstrators who criticized foreign mining concessions and demanded action to prop up the tottering economy.

More than 2,000 demonstrators in Ulaanbaatar’s Freedom Square also called for parliament to be dissolved and a new government formed over alleged corruption and the economic crisis battering the vast, landlocked nation.

Protesters say the mineral wealth that accounts for 94% of the nation’s exports has been exploited by foreign companies.

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