Monday, June 30, 2008
The rural votes have been counted, and with urban votes currently being counted, it looks like the MPRP has taken 44 seats (38 in the country and 6 in the capital), the DP 21 seats and independents 3 seats. Votes for the remaining seats are still being counted. Final results are expected tomorrow, but it appears that the MPRP has an absolute majority in the parliament and the former communists will be the ones tasked with bringing Mongolia's inflation under control and determining how to appropriately exploit the nation's mineral resources. The early results were sufficient to drive up Ivanhoe Mines' stock around 9%.