Patil on Indian Investment in Mongolian Mining

August 2, 2011 Posted by India Briefing Reading Time: < 1 minute

Aug. 2 – President Pratibha Patil on Friday asked Indian industry houses to exploit the vast opportunities in the mining sector in Mongolia, saying that the gold, copper and uranium reserves here hold much in store for them.

“The mining boom that Mongolia is presently experiencing is predicted to make Mongolia’s economy the fastest growing in the world by 2013. The World Bank’s annual GDP growth rate projection for Mongolia in 2013 is 22.9 per cent,” Patil said, according to the Press Trust of India.

“Such predictions, indeed, are staggering and Indian business must take due notice. Mongolia’s mineral wealth, including significant reserves of coal, copper, gold and uranium, offer investment opportunities for Indian companies,” she said.