Mongolia suffers $300 million decline in copper exports following China border restrictions—and it can reach $1.2 billion by the end of the year

The operator of one of Mongolia’s largest copper mines said Thursday its exports of copper concentrate to China have dropped by about 70% in the past two weeks due to restrictions at a border crossing. The restrictions have raised concerns over potential revenue losses and disruptions to Mongolia’s massive mineral sector. Oyu Tolgoi LLC, which operates Oyu Tolgoi, one of the world’s largest copper mines, said the number of truck convoys transporting copper concentrate across the Chinese border has fallen from the usual 12 to 13 per day to just around four.

Source: Fortune Crypto