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Strategies & Market Trends : Greater China Junior Stocks
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To: Julius Wong who started this subject12/10/2003 7:19:00 AM
From: Julius Wong  Read Replies (1) of 1992
 
The Great Mongolian Gold Rush

The Great Mongolian Gold Rush The land of Genghis Khan has the biggest mining find in a very long time. A visit to the core of a frenzy in the middle of nowhere.
By Grainger David

I was in Mongolia, doing your standard business interview with a local gold-mining executive named Myanganbayar, when a member of the band he sponsors walked into the conference room, wearing a tan velour FUBU jumpsuit. Myanganbayar was in the process of explaining his business, Mongol Gazar, Mongolia's second-largest gold-mining company and the employer of 700 people. He mines two tons of gold a year and has revenues that are "not a little." The company started off in the cashmere business and then moved into the hotel business but settled finally in its current incarnation in 1992, once it became clear that gold mining in Mongolia was the "same as printing money."

fortune.com
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