The Mongolian mining industry, which is to benefit from China's huge appetite for resources, is a sector to bet on. One fund manager suggests investing in mining plays that are listed internationally, but have assets in Mongolia.
"Mongolia will emerge as one of the most significant resource producers in Asia," Alisher Ali, managing partner of Silk Road Management told CNBC.
His top three picks are U.S.-listed Ivanhoe Mines , Mongolian Mining listed in Hong Kong and Australia-listed Hunnu Coal.
Ali's first choice is Ivanhoe Mines, whose Oyu Tolgoi Project is considered the crown jewel of Mongolia's resource industry. It is expected to produce 650,000 ounces of gold a year in its first 10 years starting 2013.
Investing in Ivanhoe Mines will also give traders exposure to copper and silver as the Oyu Tolgoi Project is projected to yield 544,000 metric tons of copper in the first 10 years, as well as three million ounces of silver annually.
Ali also said Mongolian Mining was one of the best positioned companies to exploit the emergence of Mongolia as the biggest coking coal exporter to China.
The miner has an edge over its competitors mainly because of the quality of its coal assets in South Gobi and the proximity of its deposits to China, Ali said.
His third pick, Hunnu Coal currently holds nine exploration licenses in Mongolia. An investment in this company, which is still in the exploration stage, Ali felt would pay off once it brings its coal assets to production.