The latest Mongolia Mining Report  says changes made recently to the Mineral Law (1997), in particular the repealing of the 68% windfall tax, have opened up the market for foreign investment in Mongolia. The current government concedes that Mongolia has to appeal to foreign investors as it is unable to invest independently into domestic mining projects and will benefit from the new technology and expertise that outside investors bring.

The report expects mining output to increase significantly from 2010 onwards, due to the passing of mining investment legislation regarding the Oyutolgoi copper/gold project. This will, in turn, pave the way for an agreement on the Tavantolgoi deposit, which also has numerous investors lined up and is considered to have the largest untapped reserves of coking coal in the world. It anticipates that the mining industry will contract by almost 50% in 2009 but return with strong growth of 26% and 18% in 2011 and 2012 respectively.