Mongolian Foreign Minister Sanjaasuren Oyun said Tuesday that his country will use its vast natural resources to forge closer ties with some of the world’s major powers.

Mongolia will target countries including Japan, South Korea, the United States, Canada, and Australia which are anxious to purchase Mongolian coal, uranium, gold, copper and other minerals.

"For us, balancing trade and economic relations with two main neighbors is important, but also we ought to attract investment from what we call 'third neighbor' countries," Oyun told the Reuters news agency. "We don't have one country in mind, but we would like to have as good relations as possible with these countries, as if they were our neighbors."

Oyun further said that he believes the long-awaited agreement between Ivanhoe Mines Ltd., Rio Tinto and the Mongolian government to mine the giant gold-copper Oyu Tolgoi site will be completed this spring.

"I think it's time to come up with a good solution because so many jobs and incomes are behind this big project once it starts going," Oyun said.

mongolia-web.com

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