Mongolia is becoming an attractive investment destination for Asian and Middle Eastern Sovereign Wealth Funds (SWFs) that seek gaining exposure to massive untapped natural resources in this frontier land, strategically located at the doorsteps of China, the world’s largest consumer of commoditiesAmong SWFs, Temasek was the first to make foray into Mongolia. Last year Singapore’s US$120bn sovereign fund together with Hopu Investment invested US$300mn in then Lung Ming (now Iron Mining International), a developer of iron ore mine in Mongolia.
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