Germany Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
The curious case of Khan Resources exposes how Mongolia seized uranium mine deposits from their Canadian legal owner and transferred them to Russian government control. And with elections imminent, the Mongolian government is now trying to clean up the mess. (Part One of a Three Part Series)
Mongolia is racing against time to make friends.
After years spent reneging on mining deals with the likes of Rio Tinto, the government has suddenly begun to settle its disputes with the promise of compensation and fresh projects.
The reason? Here too, it’s election time. And if you think America’s Democrats face a hard time defending their record, you should pity Chimediin Saikhanbileg. Mongolia’s Prime Minister has presided over one of history’s most spectacular economic nosedives – from 17% five years ago to near zero now.
Not all of this is the government’s fault, of course. More than any other country on Earth, Mongolia’s economy relies upon China, with 90% of its exports flowing to its southern neighbor. Sales and prices of its copper, coal and other commodities have crashed with the Chinese slowdown.
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Phill Hynes and Mark Burke are analysts at ISS Risk, a frontier and emerging markets political risk management company covering North, South and Southeast Asia from its headquarters in Hong Kong.
