ANXIOUS MINERS AWAIT MONGOLIAN ELECTIONS

 Resurgent nationalism in mineral-rich Mongolia, which will vote for a new government this week, will irk foreign investors, but is unlikely to wreck sentiment, with politicians still desperate to keep the dollars flowing in.
Foreign investment in Mongolia’s much coveted mines, like the $US7B Oyu Tolgoi copper project, helped expand the economy at the fastest pace in all of Asia last year. But many of the country's 3M voters say the bulk of the nation's new wealth still lies in the hands of the political elite.
Thursday's parliamentary election will see politicians from two major parties fight to appease the masses. But is seems certain, foreign firms such as Rio Tinto, can expect a more turbulent ride in the years to come.
"We believe that (resource nationalism) is broadly bi-partisan and is to increase whichever party wins," says Ulan Bator-based Frontier Securities in a note to clients.
A shift to the left could end up saddling investors with higher tax bills and make it harder to win approval for new projects. But the main players in the election remain broadly supportive of foreign capital, which has turned the dusty former Soviet outpost of Ulan Bator into a bustling boomtown. (More in Billboard)