Ulan Bator's $4000 Purses Stir Discontent

By Bloomberg - 2013-02-05T18:13:41Z

Photograph by Paula Bronstein/Getty Images

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Big Mining

Rio Tinto's $6.2 billion investment in the first phase of the Oyu Tolgoi copper and gold mine in Mongolia is the biggest test case and tensions are rising.

Most of Mongolia's population are unhappy with the big mining projects, said Dale Choi, an Ulan Bator-based associate with Origo Partners MGL, a private equity investment firm.

"Locals don't benefit from them directly," Choi said. "The country as a whole benefits, the tax revenue benefits, but the people don't feel it" and are getting more irate, he said.