Though it has had a myriad of negative impacts on the environment, mining is a vital industry completely necessary to our economy and lives. Nearly every item we use in our day to day lives is mined or contains products that are mined. Without excavation and mining such materials things like computers, televisions, electricity, and cars would not be possible. Virtually every technological and medical advance uses minded materials, without which millions would suffer. Mining in Mongolia has boomed in the recent years, with the finding of deposits of gold, copper, coal, and iron ore. With the finding of these deposits and the mineral boom in Mongolia, the government has already planned to triple Mongolia's GDP. Although mining in Mongolia is effecting the environment in a negative way, mining is crucial in Mongolia's economy for many reasons.
Mining has always been crucial in the economy of the world and in the everyday lives of people. Without mining technological items such as the computer, television, and telephone would not be around. The telephone is made of as many as 42 minerals, the television requires over 35 minerals, and more than 30 materials are needed to make a single computer (Britannica.com). These are only small everyday things we use, there are much bigger things that without mining would not be available to us. Mining in Mongolia has recently become the biggest part of the Mongolian economy. The government of Mongolia has planned to triple the GDP in Mongolia; $5.3 Billion in 2008 (www.worldbank.org). These plans ultimately will transform the Mongolian economy into a top tier economy. Today, the mining sector of Mongolia's economy has evolved into the biggest if not one of the biggest sectors. In the span of 5 years Mining in Mongolia has been influenced by companies and people all around the world. One of the biggest companies to influence mining would be Ivanhoe Mines (Canadian mining company).