The country’s underexplored yet mineral-rich landscape and supportive government offer a wealth of opportunities for mining companies. Mongolia is a resource-rich country that is at a turning point in its history. Having adapted to a democratic system of government and a market economy, the country’s wealth of mineral resources is now paving the way for rapid economic and social development. The nation has shifted away from an economy rooted in agriculture and herding and is turning instead to a fast-growing mining industry, offering unique opportunities for exploration and foreign investment. Mongolia has been called the last frontier for large-scale mining projects. The unprecedented success of mines such as Oyu Tolgoi, a tier one producer and one of the largest copper-gold deposits in the world, has set the stage for a flourishing precious metals sector. Mongolia’s mineral wealth — primarily coal, copper and gold — has been valued between US$1 trillion and US$3 trillion. The mining industry employs 3.6 percent of the country’s population. At the peak of the country’s mining boom, Mongolia’s total exports surpassed US$1.84 billion.