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Mining has driven economic growth in Mongolia. The country is rich in minerals and has started to take advantage of that by both providing mining licenses to local companies and working with foreign companies to expand mineral exports in Mongolia. Subsequent foreign investment caused the economic boom that peaked in 2011. The mining boom has also been a catalyst for other industries, such as real estate, which are also growing very fast. Even as mining slows down with lower commodity prices, investment into construction or other sectors have continued to grow. Mining has quite literally transformed Mongolia.