This Mongolian mother lode is in a remote place called Turquoise Hill, or Oyu Tolgoi, as the locals refer to it.

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Though the smaller, cheaper exchange has since managed to steal some market share from the LSE, its business model has been called into question, and Turquoise has also struggled to turn a profit in the time it has been operating.

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The new air base would be built on reclaimed land there, where sea turtles and marine mammals called dugongs now swim around coral reefs in turquoise blue waters.

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