Mongolia’s natural resources weren’t exploited during the decades that it was a Soviet client state — Russia treated the country as a buffer against China, and little else. But Mongolia is finally starting to profit from its vast mineral wealth, and international firms are eager to join in the boom.
Two Australian firms, Minter Ellison and Allens, opened offices in the capital city of Ulaanbaatar earlier this year. DLA Piper launched a formal association with a local firm last year, while U.K. firm Clyde & Co. sealed a similar tie-up this March. More global firms are likely to arrive soon, but they’ll face two obstacles: a dearth of suitable local firms to partner with, and a shortage of international lawyers willing to relocate to the cold and remote country.
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