Mongolia dines on dim sum

Mongolia becomes the second non-Chinese sovereign after the UK to issue dim sum bonds as it embarks on a new foreign fundraising programme.
Mongolia looks for new investors
Mongolia looks for new investors

The Government of Mongolia made its dim sum bond market debut on Wednesday, hoping to ride on the back of positive momentum generated by the resolution of its dispute with Anglo-Australian mining group Rio Tinto over the expansion of the Oyu Tolgoi copper mine in May.

The two had been locked in disagreement for two years over how to share the costs and revenues of the $5 billion phase two development at one of the world’s largest copper deposits.

Mongolia will now be hoping the resumption of the project will not only bring in much-needed cash but also help set...

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