| Description |
1 online resource (streaming video file) (28 min. 11 sec.) ; 170767153 bytes |
| Summary |
It once commanded empire that occupied a enormous swathe of the world, now the world wants a big slice of Mongolia. It's boomtime in this isolated and undeveloped nation as global miners are racing to stake their claims on vast riches that rival, perhaps even eclipse Australia's resources bounty. So, if you can't beat 'em join 'em and local mining giant Rio Tinto and developer Leighton are right in the thick of the action. But profound questions are being raised about the impact on environment, the proud traditions of nomadic herders and the ability of a small, unsophisticated government to deal with slick, lawyered-up multinationals.Genghis Khan might be rolling in his grave, wherever that is. The all-conquering Mongol was laid to rest in a secret location but he'd almost certainly disapprove of the foreigners coming to plunder his once mighty domain. And with all the mining activity rolling out across this remote and striking country, you really want to hope he doesn't get dug up in the frenzy.Mongolia is the big new frontier in a resources rush that's breath-taking in its scale and speed. And among the companies leading the charge to exploit the mineral riches are two Australian giants - miner Rio Tinto and developer Leighton. Leighton is operating a large joint-venture coal mine in the Gobi desert while Rio Tinto is about to open one of the biggest copper mines on the planet. It will soon account for more than 30% of the country's entire GDP ."Some of the optimistic geologists we have say that this business could run for up to 100 years. Those more conservatively say 50 years plus". - Cameron McRae, Rio TintoThe Rio Tinto deal means the company keeps a large controlling stake in the operation and cedes the Mongolian government a 34 percent stake and that's provoked widespread controversy and a degree of resentment among locals who are worried about where the benefits of Mongolia's resource wealth will go. There's concern the government is ill-equipped to strike complex and sophisticated mining deals in the national interest."People have different views on that deal. My feeling is Mongolia made a political decision. After all the deal is a financial transaction and whether it's really beneficial to Mongolia I have many doubt about that." - Dorshteri, Responsible Mining InitiativeAnd it's not only the deals that are sounding alarm bells. Environmentalists worry that the mining push has come so fast and so aggressively that proper checks and balances are not in place."Most of the tourists come to Mongolia because they want to see that pristine open space blue sky but what if we couldn't offer it anymore?" - Ono Batkhuumongol, Ecology CentreThe other big question is - how will the spread of mining and its use of scarce natural resources like water impact the range of the proud Mongolian nomadic herders. China Correspondent Stephen McDonell and cameraman Rob Hill have travelled to the awesome, sweeping Mongolian Steppe and beyond for this important report |
| Event |
Broadcast 2012-11-20 at 20:00:00 |
| Notes |
Classification: NC |
| Subject |
Mineral industries -- Valuation.
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Mines and mineral resources -- Economic aspects.
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Mines and mineral resources -- International cooperation.
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Mining corporations.
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Sustainable development -- Management.
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Mongolia.
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Streaming video
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| Author |
McDonell, Stephen, host
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Batkhuu, Ono, contributor
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Bowles, Samuel, contributor
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McRae, Cameron, contributor
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