Forecasts for copper demand are not looking bright. Copper is a major export of Mongolia and its value has a strong correlation to the health of its economy.

“2011 has been a year of great copper surplus and as such the copper price has dropped in the last few months.” said Oliver Belfitt-Nash, Monet Capital's head of research.

Mine disruptions have apparently had little effect on the price of copper, and the debt crisis in Euro zone has only worsened demand. Currently, China is moving away from construction projects as it moves forward toward the next stage of development.