Investment is desperately needed. A third of the population is nomadic and depends on livestock for a living.

 But the country is currently experiencing a "dzud" - when a summer drought followed by a severe winter decimates the grazing areas.

So far this winter, over four million animals have died. For many herders who lose their livestock, migration to an urban area where unemployment is high is the only option.

Gsogbadrakh, a widower, came to Ulan Bator with his sons after losing 300 sheep, goats, cows and horses in the last dzud.

They live in a traditional ger on the edge of the city, but Gsogbadrak has been unable to find regular employment, and has survived on social welfare and casual work in construction.

He is not convinced mining will change his prospects and make Mongolia a wealthy country. "I'm doubtful about that. Of course, if we use our resources wisely it will benefit the country, but I'm not sure I really trust our politicians."