NEA Denies Khan Resource Statement on Court Decision
On November 3, the Nuclear Energy Agency of Mongolia called a press conference in connection with a recent statement by Khan Resources.
Khan Resources announced late October that Mongolian Appeal Court again ruled in favor of it, regarding its mining license and upheld an administrative court decision.
NEA Lawyer Sugarsuren said the trial held on October 13 ruled not in favor of Khan Resources but in favor of Mongolian Nuclear Energy Agency and invalidated the mining license held by Khan’s subsidiary, Central Asian Uranium Co LLC.
According to NEA official Bayarbayasgalan, Khan failed to comply with several Mongolian laws including Law on Special License, Law on Earth Bowels and Law on Minerals.
Particularly, Khan carried out operations on specially protected area, traded 54 million shares at the Toronto Stock Exchange and failed to commence the exploration within three years after the issuance of exploration license, which were revealed by the inspection of professional inspection agency. Khan Resources owns a license to explore uranium in Dornod Province.
Khan Resources announced late October that Mongolian Appeal Court again ruled in favor of it, regarding its mining license and upheld an administrative court decision.
NEA Lawyer Sugarsuren said the trial held on October 13 ruled not in favor of Khan Resources but in favor of Mongolian Nuclear Energy Agency and invalidated the mining license held by Khan’s subsidiary, Central Asian Uranium Co LLC.
According to NEA official Bayarbayasgalan, Khan failed to comply with several Mongolian laws including Law on Special License, Law on Earth Bowels and Law on Minerals.
Particularly, Khan carried out operations on specially protected area, traded 54 million shares at the Toronto Stock Exchange and failed to commence the exploration within three years after the issuance of exploration license, which were revealed by the inspection of professional inspection agency. Khan Resources owns a license to explore uranium in Dornod Province.
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